Retirees and annuitants can review the details of their pay account by accessing the Defense Finance and Accounting Service (DFAS) myPay Web site at https://mypay.dfas.mil.
Each year your military retirement pay is adjusted to meet the increased cost of living. This Cost of Living Adjustment varies from year to year based on the Consumer Price Index (CPI).
The COLA for 2007 is 3.3 percent for retired pay, SBP annuities, Social Security, and veterans disability compensation effective December 1, 2006.
All Retirees who retired prior to January 1, 2006 will receive the 3.3% Cost of Living Adjustment.
Retirees who first became a member of a Uniformed Service before September 8, 1980 and retired on or after January 1, 2006 will receive a 2.8 COLA for 2007.
Retirees who first became a member of a Uniformed Service on or after September 8, 1980, will receive a COLA according to the effective date of their retirement as follows:
| Retirement Effective: | Percent Increase | 10 U.S.C. Authority |
| Before January 1, 2006 | 3.3 percent | 1401a(b)(2) |
| January 1 - March 31, 2006 | 2.8 percent | 1401a(d) |
| April 1 - June 30, 2006 | 2.4 percent | 1401a(d) |
| July 1 - September 30, 2006 | 0.6 percent | 1401a(d) |
| October 1 - December 31, 2006 | 0.0 percent | 1401a(d) |
Example: If you retired on January 10th of 2006 you can expect to see a 2.8 percent COLA (pay increase) in your 2007 retirement pay.
However - If you retired on April 6th of 2006 you can expect to see only a 2.4 percent COLA (pay increase) in your 2007 retirement pay.
