Beginning of VA benefits (monthly pay)

MilitaryBlake

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Began my claims with the IDES process, where I was rated at 100%. Officially separated from service end of Sept. I actually received my letter of benefits and final ratings pretty quick, about mid Oct. My question is when I can expect to begin receiving pay. I know it goes back retroactively to when I officially separated and became a Vet., but typically when can I expect to receive the first payment?
 

RonG

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Ref: "Officially separated from service end of Sept"

Speaking about VA compensation entitlement in general: VA compensation begins to accrue the first day of the month following the month having the VA comp effective date.

Effective date VA comp, 28 September 2020 = VA comp would accrue for 1-31 October and if processed in time, paid 30 October since 1 November and 31 October are on the weekend.

Effective date VA comp, 1 October 2020 = VA comp would accrue for 1-30 November and if processed in time, paid on/about 1 December 2020.

The VA processing cycle, cutoff, is around the 19th. If processed before the 19th, the pay shows at end of month or on the first. If processed after the 19th, the pay rolls over to the following month. Per discussions with former and present VA employees on other boards.

How the above fits with those who have been in the IDES is unknown to me.

Good luck,
Ron
 

MilitaryBlake

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Thanks Ron. Went through. I am good to go!

So I assume benefits always pay at the end of the month? I separated 28 Sept, and therefore began accruing benefits at the beginning of OCT to end of OCT. Received payment like you said at the end of Oct. Now we are heading to a new month in NOV., I won't get my benefit until end of NOV right?
 

RonG

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Thanks Ron. Went through. I am good to go!

So I assume benefits always pay at the end of the month? I separated 28 Sept, and therefore began accruing benefits at the beginning of OCT to end of OCT. Received payment like you said at the end of Oct. Now we are heading to a new month in NOV., I won't get my benefit until end of NOV right?
The payment of VA comp is normally on the first of the month following the month of accrual.
EXAMPLE: Payment for 1-30 September 2020 was made on 1 October 2020
(Some financial institutions show an earlier date and can be withdrawn earlier...I think the banks are taking a chance when they do that.)

Payment when the first day "of the month following the accrual month" is on a weekend or holiday, payment is scheduled for the closest workday prior to the weekend/holiday.
EXAMPLE: 1 November is on a weekend and so is the 31st of October. Payment was made 30 October 2020, Friday.

My financial instruction showed the deposit as being the 29th of October (day preceding official pay date) but that is just a benefit from being with NFCU.

Ron
 
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