That’s because, starting the year you turn 62, the COLA is applied to your Primary Insurance Amount (PIA), the amount you would receive if you claim at your full retirement age, which is 67 for those born in 1960 or later. “It doesn’t matter if you’re collecting—you still get it applied,” said Martha Shedden, president and co-founder of the National Association of Registered Social Security Analysts.
Published by Pamela Kweller, RSSA®
Pamela Kweller is the Content & Community Manager at RSSA. She is also certified as a Registered Social Security Analyst®. The mission of RSSA is to help Americans get the maximum Social Security income they have earned, enabling them to enjoy their lives more fully. Contact Pamela: pkweller@rssa.com View more posts