Ask Larry

Is My Husband Correct About The COLA?

Hi, I turned 62 in 2022 and started collecting ss . My huband says I wont get the cola I 2023. Is he correct?
Thank you !

Hi. No. Everyone born prior to January 2 1961 will have the upcoming 8.7% cost of living (COLA) increase added to their Social Security retirement benefit rate regardless of whether or not they are drawing benefits. So, if you turned 62 in 2020 then you will receive the COLA.

Best, Jerry

Oct 31 2022 - 4:51pm
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