The COLA is listed as 8.7%. Will that amount be applied to my current SS benefit via a multiplication of 1.087 x Current SS benefit or will it be applied by taking SS benefit and applying it by 1.00 - .087 ( .913 ). In other words SS benefit divided by .913. Dividing is the real increase versus multiplying is the short way of applying COLA.

Thank You

Hi. Your new benefit rate will be calculated by multiplying your current rate by 1.087, subject to dime and dollar down rounding (https://secure.ssa.gov/poms.nsf/lnx/0300601020). No subtraction or division is involved.

Best, Jerry