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Experts at Maximize My Social Security have answered more than 10,000 questions about Social Security over many years. Search for your questions and answers here.
How Will The January 2022 Cost Of Living Adjustment Affect Me?
How will the January 2022 social security cost of living adjustment affect me? I will be 65 in March 2022, still working not collecting benefits.
Thank you, Kevin
Hi. All Social Security cost of living (COLA) increases that occur after a person turns age 62 are added to a their Social Security retirement benefit rate whether or not they are drawing benefits. So, the short answer is that you'll be credited with the COLA increase that's expected next January even if you delay drawing your benefits.
You may want to strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to fully analyze the options available to you in order to determine your best strategy for maximizing your benefits.
Best, Jerry
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September 18, 2021