I started collecting social security in October. I was told I would collect for the last 3 months the amount I would have collected in January of 2022. Then it would be adjusted in 2023 for Cola and for the 9 months I waited. I was told I would also get the amount for the three months in 2022 that I got based on January 2022. I am past my full retirement age when I started, but as of February I have the January 2022 amount plus the cola, nothing for waiting the 9 months ( I was told it’s 8% yearly)

Hi. You're probably going to need patience. When you start drawing benefits between full retirement age (FRA) and age 70, Social Security initially only gives you credit for any delayed retirement credits (DRC) that you earned through December of the year prior to the year you start collecting. Any DRCs earned in the year that you started drawing benefits are subsequently credited effective with your payment for January of the year after the year you claimed benefits.

However, Social Security uses an automated process to add the the additional DRCs, and my understanding is that such automated recomputations are only done every other year. Therefore, at best you may receive the rate adjustment to add your additional DRCs later this year, but it may not be done until sometime next year. Whenever the rate adjustment is finally processed, though, Social Security will pay you any back pay that you have coming.

Best, Jerry