My question is about the COLA's for Social security, do they apply to widow's benefits as well? My husband died in 2005 so I can not check what my benefit will be if I decide to take it at age 60. From the information I have from 2005 I could collect about $1000 a month but with the COLA's would it be more?
Hi,
Yes, cost of living adjustments (COLA) apply to widow's benefits just the same as other Social Security benefits. There are actually two different methods of computing widow's benefits, but both make adjustments to keep pace with either inflation, or average wage increases. So, your actual benefit rate will almost certainly be more than what you were quoted in 2005, assuming that the information you received at that time was accurate and did not include an assumed rate of inflation.
Best, Jerry