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Veterans, military retirees to see 8.7% boost in benefits to match Social Security increase

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WASHINGTON — Veterans and military retirees will see an increase in their disability compensation after the Social Security Administration announced 70 million Americans will see an 8.7% increase in their benefits next year.

The announcement comes two days after President Joe Biden signed the Veterans’ Compensation Cost-of-Living Adjustment Act of 2022, which will require the Department of Veterans Affairs to boost compensation for veterans with disabilities and their families by providing a cost-of-living adjustment equal to the Social Security increase.

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