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Forecast number of military retirees in the U.S. 2020-2030

By 2030, the number of military retirees in the United States is expected to reach 2.21 million; an increase from an estimated 2.18 million retirees in 2020.

Military retirement pay

Military retirement pay was created to acknowledge those who served their country through a military career. Those who served in active duty, reserves, or guard for at least 20 years are entitled to military retirement pay. There are different factors that influence how much is paid out to different veterans, which includes length of service, disability percentage, the year the person entered the military, and type of retirement. The total payment for military retirees is expected to continue to increase, as well as their average benefits. However, the total outlays for the military retirement trust fund is expected to fluctuate over the next couple years.

U.S veterans

The United States has one of the largest militaries in the world based on active personnel and has the largest defense budget in the world. However, many veterans in the U.S. struggle to find a job and find affordable housing when they return from deployment due to factors such as post-traumatic stress disorder and physical disabilities. The Department of Veteran Affairs seeks to help those coming back from training or combat assimilate back into everyday life.

Forecast of the number of military retirees in the United States from 2020 to 2030

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Source

Release date

January 2020

Region

United States

Survey time period

January 2020

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Statistics on "Retirement saving in the United States"

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