2022 AFBA Financial Planning Guide

6–5. PENSION BENEFITS. A veteran who has limited or no income and is age 65 or older, or under 65, if permanently and totally disabled for reasons not traceable to his or her military service (and which are not the result of his or her own willful misconduct) may qualify for a VA pension. To be eligible, the veteran must have: (a) served at least 90 days on active duty, of which at least one day must have been during a period of war (if veteran entered active duty after September 7, 1980, generally he or she must have served 24 months or the full period for which called or ordered to active duty); (b) been discharged or separated for reasons other than dishonorable; and (c) must have a family income below the yearly limit set by Congress (see table below). The program provides for an annual pension which is usually paid in monthly amounts. The amounts authorized are designed to ensure a minimum level of family income. Consequently, the VA pays the difference between actual family income and the designated minimum annual income level. If family income is above the designated level, no pension benefit will be paid. Additionally, recipients of the Medal of Honor receive a monthly pension of $1,407. Family Income Limits Non-Service-Connected Disability Pensions

Monthly Compensation Service Connected Disability

Veteran with Spouse & Child

Percentage of Disability

Veteran with no Dependents

Veteran with Spouse

$152.64

10%

$301.74

20%

$467.39

$522.39

$563.39

30%

$673.28

$747.28

$801.28

40%

$958.44

$1,050.44

$1,118.44

50%

$1,214.03

$1,325.03

$1,407.03

60%

$1,529.95

$1,659.95

$1,754.95

70%

$1,778.43

$1,926.43

$2,035.43

80%

$1,998.52

$2,165.52

$2,287.52

90%

$3,332.06

$3,517.84

$3,653.89

100%

Vietnam and Gulf War Veterans. Military personnel who served in Vietnam between January 9, 1962 and May 5, 1975 are presumed to have been exposed to Agent Orange or other herbicides. These unhealthy chemicals have been linked to various diseases including respiratory and prostate cancer. In addition, certain illnesses are associated with Gulf War service in the Southwest Asia theater of military operations during the first Gulf War starting August 2, 1990 through the conflict in Iraq. These veterans may be eligible for disability compensation. The VA will provide free, comprehensive medical examinations including the necessary laboratory and diagnostic tests required to determine their health and eligibility status. Other Disability Benefits. Disabled veterans may also be entitled to: a. VA grants for home adaptations necessary to accommodate daily living requirements; b. Payments to assist with adaptations required to ensure safe motor vehicle operation or use; and, c. Annual clothing allowances for veterans who use prosthetic or orthopedic appliances.

$14,753

Veteran with no dependent spouse or child

$19,320

Veteran with one dependent (spouse or child)

Veteran in need of regular aid and attendance without dependents

$24,610

Veteran in need of regular aid and attendance with one dependent

$29,175

$19,320

Two veterans married to each other

Two veterans married to each other one housebound

$22,596

$2,523

Amount for each additional child

CHAPTER 6: VETERANS BENEFITS

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