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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 My Benefit Be Credited With The 5.9% COLA If I Turn 62 In December 2021?
I turn 62 on 12/26/21. If I opt to start taking SS in Dec 2022 (age 63), will my benefits see the 5.9% COLA increase that is due to happen in 2022?
Hi. Yes. People born prior to January 2 1960 will have the upcoming 5.9% cost of living (COLA) increase added to their Social Security retirement benefit rate regardless of when they start drawing their benefits.
Best, Jerry
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October 14, 2021