My FRA is on October 2021. I was going to wait until February to collect my first check to pick up a few months of delayed filing money. . Should I schedule my first check in 2021 to take advantage of the expected 2022 COLA increase?

Hi. No. All Social Security cost of living (COLA) increases that occur after a person turns age 62 are added to their Social Security retirement benefit rate whether or not they are drawing benefits. So, if there is a COLA starting next year it will be included in your benefit rate no matter when you start drawing your benefits.

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Best, Jerry