I am currently 61 planning on drawing SSA at 62 in February 2020. Question is, does the yearly COLA get added to the estimated benefits amount calculated by the Benefits estimator calculator. For instance , currently it shows an estimate of 1706 monthly at age 62. Will that estimate be adjusted to include the COLA OF 1.6% prior to me applying for benefits?
If you don't turn 62 until after January 1 2020, then you won't be eligible for the upcoming 1.6% cost of living increase (COLA).