I was born in 1959, don't plan to start receiving ss benefits until I'm 67. I just reviewed my ss benefit statement, and the projected monthly benefit at 70 is the same today (01/19/23) as it was in December 2022. Why didn't the projected monthly benefit increase by the 8.7% COLA? Thanks!
Hi. You'll have to ask Social Security that question. What I can tell you is that your Social Security retirement benefit rate will be credited with the 2023 8.7% Social Security cost of living (COLA) increase regardless of when you start drawing your benefits. Everyone born prior to January 2 1961 will receive the increase, even if they aren't yet receiving benefits.
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