text:  So every year you're deferring your benefit, you're getting roughly an 8% raise in benefits if you turn them on the following year. But you're actually probably going to get more than that. Unless we're experiencing deflationary times, you're going to get not just your 8% deferred retirement credit, but you're also going to get in 2024 your 3.2% cost of living adjustment. So your Social Security actually just went up by 11.2%.