My husband turns 70 later this year. At 66, his full retirement age, the Soc Sec office gave him a spreadsheet/list of his benefit at 66 and then for every month he delayed up to his 70th birthday. I understand that he will get +8% each of the four years he delays. And the math works out to exactly what their listing indicated. I also know that during those 4 years the people who were already receiving Soc Sec got a COLA.
My question: do the COLA adjustments have any bearing on the amount he will receive at age 70. In other words, is the number they gave us, the MAXIMUM he will be receiving regardless of any COLAs along the way while he was delaying? The delay will give him a nice bump up in benefits, just curious if it changes from the original number. ( I couldn't find the answer by searching the topic.)
My question: do the COLA adjustments have any bearing on the amount he will receive at age 70. In other words, is the number they gave us, the MAXIMUM he will be receiving regardless of any COLAs along the way while he was delaying? The delay will give him a nice bump up in benefits, just curious if it changes from the original number. ( I couldn't find the answer by searching the topic.)