Hi Larry,
I’ve filed a restricted application and currently receive half of my ex-husband’s full retirement amount, letting my own account grow 8%/year. I am now 68. I noticed that the COLA was 5.9% for this past year. If I continue to delay taking my own Social Security will I receive the COLA in addition to the 8% per year? If not, it seems that I should switch to my own now as I could use the extra money! Thanks, Judith

Hi Judith. Yes. Cost of living (COLA) increases are added to a person's Social Security retirement benefit rate starting with the year after the year in which they reach age 62, regardless of when they start drawing benefits. In other words, everyone born in 1959 or earlier will receive credit for the 5.9% COLA that starts January 2022 even if they apply for their Social Security retirement benefits at some point in the future.

Best, Jerry