2023 Military Retirement Pay COLA 8.7% Increase The Military Wal…. For the 2023 COLA, REDUX retirees would only see a 7.7% COLA increase. One-Time Catch-Up Adjustment for REDUX Retirees. There is a one-time adjustment at age 62 that brings REDUX retirees’ pay up to the level it would have been at age 62 without the decreased COLA rate. However, after this increase, decreased annual COLA rates resume.
For 2023, that means military retirees would see an average increase of more than $240 in their monthly retirement checks. Veterans receiving disability.