Based on the increase in the Consumer Price Index, there will be a 3.2 percent Cost of Living Adjustment (COLA) for most retired pay and Survivor Benefit Plan annuities effective Dec. 1, 2023.
Retirees will see the change in their Dec. 31, 2023 payment and SBP annuitants in their Jan. 2, 2024 payment.
For details, see the Fiscal Year 2024 COLA Memorandum:
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