I recently applied for Social Security and was approved and my forecasted benefit amount is the same amount of my benefit estimate ! When is the Cola applied ? I turned 62 in Nov of 2020 and I turn 64 this Nov. I did not receive any COLA updates to my estimates in the last 3 years. I believe you said on a previous post that those COLAs are baked in to your annual updates ? Not mine and the SSA office is very deceptive with their answers every time I call.

I turn 62 in August of 2023. When is the first cola I will be eligible for?

Hi. The cost of living (COLA) increase that presumably will occur in January 2024 is the first COLA that will be added to your Social Security retirement benefit rate. All Social Security COLAs that occur after a person reaches age 62 are added to their Social Security retirement benefit rate regardless of when they start drawing benefits.

I turn 62 on Mar 1st 2023. Am I eligible for the next COLA?

Hi. No, assuming that you're referring to your own Social Security retirement benefit rate. Only people who were born prior to January 2 1961 will have the January 2023 cost of living (COLA) increase added to their Social Security retirement benefit rate.

Best, Jerry

I received a letter from SSA that I would be eligible for surbiv's benefits but that I would not be eligible for COLA. Why is that?

Hi. I can't give you a proper answer without more details. Social Security cost of living (COLA) increases are added to all Social Security benefits, including survivor benefits. So, if you're currently eligible to collect survivor benefits, then all future Social Security COLA increases would be added to your survivor benefit rate.

If I file this month for my social security- I’m 63, will I get next January’s cola?

Hi. Yes, since you've already reached age 62 you'll get the next Social Security cost of living (COLA) increase no matter when you claim benefits. All Social Security COLAs that occur after a person reaches age 62 are added to their Social Security retirement benefit rate regardless of when they start drawing benefits.

Hi Larry I have a question regarding the cola adjustments for 2022 and potentially 2023. I'm 64 and retiring end of September. I'm planning to take social security April 2023. I have not started the filing process yet.

I’m 68, single never married, retired at 66, and have delayed taking Social Security benefits to maximize my Delayed Retirement Credits. I had planned to delay until age 70. However, as I see the large percentage increases in SS benefits due to inflation, I would like to know if I am missing out by continuing to delay. Does the primary insurance amount (PIA) increase with annual inflation adjustments by the same amount whether I am collecting or delaying? Thank you.

Hi, I was 65 in May 2022, I am planning to retire end of December 2022. Should I start collecting in November in order to receive any COLA they may give for January 2023 with all the inflation? If I wait until January will I lose out?

Hi. No, you will not lose out on the 2023 cost of living (COLA) increase no matter when you start drawing benefits. All Social Security COLAs that occur after a person reaches age 62 are added to their Social Security retirement benefit rate regardless of when they start drawing benefits.

I turn 62 on 12/22/2022. If I retire January 1st of 2023 will I be eligible for the 2023 COLA?

Hi. Yes. All Social Security cost of living (COLA) increases that occur after a person turns age 62 are added to a their Social Security retirement benefit rate regardless of whether or not they are collecting benefits.

I will turn 62 on December 31st. I'm going to sign up in October. Will I be eligible for the 8% increase in January?

Thank you.