Prisoner of War Benefits Amendments Act of 1981

Prisoner of War Benefits Amendments Act of 1981 - Authorizes the Administrator of Veterans' Affairs to establish an advisory committee to assess new medical and other information on former prisoners of war (POW's). Directs such committee to submit a biennial report to the Administrator on its activities.

Makes POW's with the disease of psychosis manifest to a degree of ten percent presumptively eligible for wartime disability benefits (presently such psychosis must have occurred within two years of separation from service). Entitles POW's of World War I, World War II, the Korean conflict, or the Vietnam era to hospital, nursing home, and domiciliary care benefits. Directs the Administrator to prescribe regulations and furnish medical services for any disability on an outpatient or ambulatory basis to such POW's.

Requires the President to designate an appropriate date for the annual observance of "National P.O.W./M.I.A. Recognition Day."