Overview of veterans’ retirement benefits

Oklahoma military veterans have access to a lot of benefits, some of which are available through the many programs the Department of Veterans’ Affairs administers. One of these programs involves a pension plan for which disabled vets or veterans over the age of 65 can qualify. This pension program is separate from the program the Department uses to compensate veterans who get disabled while in the service.

There are certain rules as to who qualifies for these benefits. In addition to being either over 65 or “disabled” as the Department defines that term, a person also has to show he or she received something other than a dishonorable discharge, although a full “honorable” discharge might not be necessary. Also, the veteran claiming the pension must serve during wartime; however, officially, the United States has been in wartime since the 1990 Persian Gulf War.

Perhaps most importantly, the pension being discussed in this blog is subject to income limitations, as it is intended to help veterans who otherwise would be prone to serious financial struggles.

Specifically, a single vet with no children cannot have “countable” income of more than $12,907 annually. Not every dollar a veteran makes is “countable” income, and there may be complicated rules as what income does and does not figure in to the equation. In any event, if a veteran has less than the threshold, he or she will get a monthly pension to make up the difference. So, for examples, if a veteran has countable income of $8,000 a year, then the annual pension due is $4,907, or $408 a month. Higher countable income limits apply when a veteran is married or has children at home.

Any number of veterans’ pension issues can arise in the course of this pension or benefits available through the Department. An experienced attorney can be helpful in resolving these issues.

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