I have a follow-up to a previous question. Someone just asked if the COLA will apply to those who are not receiving benefits yet. I am 61. For the last few years I have been logging into the my social security web site and checking my projected benefits at 62, 65, 67 and 70.

The projected benefits seem to stay the same, they never go up with the COLAs. I believe the projections only update annually, but I have been checking for over a year. Can you clear this up for me?

Thanks

Hi. My understanding is that the estimates on Social Security's benefit statements include past cost of living (COLA) increases, but no future projected COLAs. Nonetheless, your Social Security retirement benefit rate will be credited with all Social Security COLAs that occur after you turn age 62.

We believe the best way to get an accurate benefit estimate is by using the Social Security benefit calculator included in our software (https://maximizemysocialsecurity.com/purchase). Using the software would also allow you to fully compare and analyze all of your filing options so that you can determine your best strategy for maximizing your benefits.

Best, Jerry