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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.
Will I Be Eligible For The COLA Raise?
I'm turning 65 in May 2023, but I'm planning to retire in January 2023. Will I be eligible for the COLA raise?
What about if I wait till 65, will the COLA raise still apply in addition to the amount I'm suppose to get?
Hi. Yes. All Social Security cost of living (COLA) increases that occur after a person turns age 62 are added to their Social Security retirement benefit rate regardless of when they apply for benefits.
Before deciding on when to claim benefits, you should strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to fully analyze all of your options so that you can determine your best strategy for maximizing your benefits.
Best, Jerry
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September 19, 2022