Ask Larry

Is What Social Security Told Me About The 5.9% Increase Correct?

I was just told by the SS Admin that this is not true. They said the person had to be drawing benefits already to qualify for the 5.9% increase. I was born in 1956 and my benefit did not get credited.

Hi. What you were apparently told by Social Security isn't correct. Everyone born prior to January 2 1960 will receive credit for the recent 5.9% cost of living (COLA) increase when calculating their Social Security retirement benefit rate. They DO NOT need to currently be collecting benefits in order to receive credit for the increase (

Best, Jerry

Feb 4 2022 - 3:07pm
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