Military retirees and annuitants, persons who receive pensions and other benefits from the Department of Veterans Affairs, and Social Security recipients will see the amount they receive rise by 1.5 percent increase on Jan. 1, 2014. The increase in the cost of living adjustment (COLA) is based on the Consumer Price Index (CPI) average as calculated by the Bureau of Labor Statistics between July and September of this year. The CPI measures changes in marketplace prices of goods and services.
