How Social Security COLA is Calculated

The math works the same either way, you could just simply multiply your current benefit amount by 2.8% to come up with the increase. I just walked through it this way because that’s how Social Security calculates it. Sorry about the calculator-breath comment earlier, it was unwarranted. 

Similarly, if you delayed your benefit to age 70, your benefit would begin at 132% of your PIA, or $2,640.  For the 2019 increase of 2.8%, your new benefit would be $2,713.90.  Amounts are always rounded down to the next lower dime.

For more trends in fixed income, visit the Advisor Solutions Channel.