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. My official benefits letter is in the mail so I am hoping this will explain everything in detail but I am holding my breathe. Your thoughts. Regards, Don.

Hi Don. 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 regardless of whether or not they are drawing benefits. So, if you turned age 62 in November 2020 and if you filed for your Social Security retirement benefits this year, your initial benefit rate will include the Social Security COLAs that occurred in January 2021 and January 2022. If that rate matches your benefit estimate, then it means that the benefit estimate correctly included those two COLAs.

Best, Jerry