With Federal Employee pay frozen, and COLA's for Social Security and OPM Retirement on hold for an indefinite period of time, it is quite possible we will never see another COLA in our lifetime. In fact there is talk to end FERS pensions for new Government Employees starting in 2013. Also the President's fiscal commission is working on eliminating COLA's. As of now COLA's are/were issued yearly tied to the CPI.
"The fiscal commission also suggested deferring Cost of Living Adjustments (COLA) for retirees in the current system until age 62. This would also apply to civilian and military retirees who retire at an earlier age. In place of COLA, the system would provide a one-time catch-up adjustment at age 62 to bring benefits on par with the amount that would have been paid if full COLAs had been in effect. Taxpayers would save $5 billion in 2015 and $17 billion through 2020."
"Sens. Tom Coburn, R-Okla., and Richard Burr, R-N.C., last week introduced a bill that would end the Federal Employees Retirement System's defined benefit pension for new employees beginning in 2013."