Social Security payments discrepancy

[jpeter1093]

My account in the social security system just released my January 2023 payment and it's what I expected with the 8.7% COLA increase and the Medicare decrease to 164.90. However, it's showing ANOTHER increase for February (of $179)! A mistake in the website or something else I'm unaware of?

Any thoughts? Image attached from their website.

 

[Kabowest]

Not knowing your age I would think maybe the delayed retirement credit, but doing some quick math it doesn't quite equal out to that.

 

[jpeter1093]

Not knowing your age I would think maybe the delayed retirement credit, but doing some quick math it doesn't quite equal out to that.

Wow! That's pretty cool news. My FRA was 66 years/2 months. I started social security at 67 and now read that the delayed retirement credit starts in January of the year after you start. I assumed it was included immediately.

Thanks for the good news!

 

[5Miler]

You made me look!

I am also waiting on my Delayed Retirement Credits to kick in since I started SS in Nov 2021 with my first payment received Dec 2021. My FRA was 66 while I claimed SS at 68 and 5 months. My payment date is also the same as yours (2nd Wed monthly) but alas, still no bump for those credits showing for my Feb 2023 payment. Should be a juicy catchup payment when it finally goes through though.

 

[CRLLS]

I wasn't aware of the January start date. I had to check since it wasn't what I experienced. The delay to January does not occur unless you start to collect before you reach age 70. I started at age 70, which explains why I wasn't familiar with it.

So what happens to the $$ you have been receiving for the months you have "earned" but not received until the following January? Is the check just your PIA until then?