Will My Benefit Be Credited With The 5.9% COLA If I Turn 62 In December 2021?
I turn 62 on 12/26/21. If I opt to start taking SS in Dec 2022 (age 63), will my benefits see the 5.9% COLA increase that is due to happen in 2022?
Hi. Yes. People born prior to January 2 1960 will have the upcoming 5.9% cost of living (COLA) increase added to their Social Security retirement benefit rate regardless of when they start drawing their benefits.