If I am collecting survivor benefits currently but will be switching to mine at my full retirement age of 66 and 4 months, will my benefit be accruing the cola increases once I switch?

Thanks for the help.

Hi. Yes, but your own Social Security retirement benefit rate will also be credited with all of the Social Security cost of living (COLA) increases that occurred after you turned age 62 and before you switch to drawing your own benefits. 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 when they apply for benefits.

Depending on the relative amounts of your own benefit rate and your survivor rate, you may want to consider waiting until age 70 to switch to drawing your own benefits. Your own retirement benefit rate will increase due to delayed retirement credits for any months between your full retirement age (FRA) and age 70 that you don't collect your own benefits. That would raise your own monthly benefit rate by roughly 8% for each year that you wait to switch.

You should strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to fully compare and analyze all of your various options so that you can make sure to choose your best strategy for maximizing your benefits.

Best, Jerry