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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.
If I Retire In 2022 Will My Benefit Rate Still Reflect The 5.9% COLA?
Hi I plan on retiring in 2022 and I see the COLA will be the largest 5.9. Will my monthly SSN check reflect that? Or is that increase just for current SSN recepients?
Hi. Assuming that you were born prior to January 2 1960, then the answer's yes. A person's Social Security retirement benefit rate is increased by all Social Security cost of living adjustments (COLA) that occur after they turn age 62, regardless of when they start drawing benefits.
Best, Jerry
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October 25, 2021