On the social security statement it tells you the projected amount of money you may be getting at retirement age .Does it include the eight percent on the statement. Are do thay add it when you start takings social security?

Hi. I'm not sure what type of increase you're referring to. Social Security benefit statements don't include any future projected cost of living (COLA) increases, but they do include the 8% increase that's added to a person's Social Security retirement benefit rate for each 12 month period that they delay taking benefits between their full retirement age (FRA) and age 70.

One of the things that can make the estimates on a person's Social Security benefit statement is future earnings. In some cases, Social Security's estimates include an assumed amount of future earnings. If those earnings don't materialize or are different than the assumed amount, the person's benefit estimate will end up being inaccurate. Another thing that frequently causes the benefit estimates on Social Security's statements to be inaccurate is when either the Windfall Elimination Provision (WEP) (https://www.ssa.gov/pubs/EN-05-10045.pdf) or Government Pension Offset (GPO) provision (https://www.ssa.gov/pubs/EN-05-10007.pdf) is involved.

You may want to strongly consider using our software (https://maximizemysocialsecurity.com/purchase) to get an accurate benefit estimate, and to fully analyze all of your options so that you can determine your best strategy for maximizing your benefits. Our software permits you to enter your expected future earnings, and is fully programmed to handle computations involving the WEP and GPO provisions.

Best, Jerry