If I apply for social security benifits for this December, will I receive the 2% COLA increase in January of 2018?

Hi,

If your 62nd birthday is prior to January 2 2018, you will get the 2% COLA increase regardless of when you start drawing benefits.

For example, say Bob is currently age 62 but hasn't yet filed for benefits. Bob's reduced retirement rate would be $1000 if he started drawing benefits in November 2017, and his benefit rate would increase to $1020 (i.e. $1000 x 1.02) effective with his check for January 2018. However, even if Bob didn't start drawing his benefits until age 70, his benefit rate at that time would include credit for the 2018 2% COLA increase since he turned 62 before 2018.

Best, Jerry