The Social Security Administration (SSA) has announced the next direct Supplemental Security Income (SSI) payment. Beneficiaries can expect their accounts to be credited in less than two weeks, ensuring that all eligible individuals and couples receive their due payments.
On top of the regular monthly payment scheduled for Thursday, August 1st, an additional payment will be made on August 30th, as September 1st falls on a weekend. Whenever the first of the month lands on a weekend, the SSA moves the payment date to the prior business day.
Purpose
The SSI program is designed to support vulnerable Americans struggling with living expenses. This financial assistance is specifically targeted at low-income seniors and disabled individuals. To qualify, applicants must demonstrate they lack sufficient income and resources to meet basic needs.
On average, recipients get $698 per month, but individuals and couples might receive up to $943 and $1,415, respectively. Additionally, some beneficiaries could get an extra $472 if they meet the essential person (EP) criteria.
Schedule
SSI recipients typically receive their benefits on the first of each month. If this date coincides with a weekend or a federal holiday, the payment is issued on the preceding business day. Here are the remaining payment dates for this year:
- Monday, July 1
- Thursday, August 1
- Friday, August 30 (for September)
- Tuesday, October 1
- Friday, November 1
- Friday, November 29 (for December)
An additional increase in monthly payments might occur later this year due to changes in the cost of living adjustment (COLA). Staying informed about your benefits and payment schedule ensures you receive your SSI benefits without issues.
Missed Payments
If your double SSI payment does not arrive as scheduled, allow at least three additional mailing days before contacting SSA. This delay accounts for mailing times. Direct deposit payments may vary based on your bank’s processing times, so it’s important to be patient and wait a few days before reaching out to customer service.
COLA Impact
Cost of living adjustments (COLA) are made by the SSA to help beneficiaries keep up with inflation. For example, a COLA increase of 3.2% has been approved for 2023, effective January 2024. The next increase will be announced at the end of this year, with projections suggesting a 2.6% to 3% increase for 2025. Here are the potential new SSI payment amounts if a 3% COLA increase takes effect:
| SSI Benefits | Current Payments | Including 3% COLA 2025 |
|---|---|---|
| On average | $698 | $719 |
| Individuals | $943 | $971 |
| Couples | $1,415 | $1,457 |
| Essential person | $472 | $486 |
These estimates help beneficiaries plan their finances better, though the official announcement will be made in October.
Keeping up with these changes ensures you make the most of your SSI benefits. Remember, if your payment is late, it’s often due to processing delays, so patience is key.
FAQs
What should I do if my SSI payment is late?
Wait at least three additional mailing days before contacting SSA.
When will the COLA increase for 2025 be announced?
The COLA increase will be officially announced in October.
How much can couples receive from SSI?
Couples can receive up to $1,415 monthly, potentially more with COLA adjustments.
What is the average SSI payment?
The average SSI payment is $698 per month.
How are SSI payment dates determined?
Payments are made on the first of each month unless it falls on a weekend or holiday.