The Social Security Administration‘s (SSA) payment schedule and COLA fact sheet unveiled some interesting things with SSI recipients. Funds for all Supplemental Security checks and direct deposits for December will be issued on November 29, 2024.
As a result, on December 1st, it is going to be something like that—2 days in advance, but no payment. More surprisingly, Social Security has scheduled an SSI payday for December. In fact, it will arrive on December 31, 2024.
Also Read: Great News: $1,000 One-Time Payment for Residents Coming Soon!
SSI check on December 31 – facts
The payment for January has changed from a Supplemental Security Income payment on December 31 to January 1. This is why the payment amount this December will differ.
The 2025 COLA increase includes the SSI check, which is actually due on December 31. And Social Security and Supplemental Security Income benefits will increase by 2.55% , the cost of living adjustment.
This annual COLA boost is below the average COLA of 2.6% over the past decade. But also not that beneficiaries will get a lower increase compared to 2024, 2023, or 2022.
SSI new maximum amounts with the COLA increase
The COLA increase will give you more or less extra money depending on how much you are getting. Let’s say that you get a $500 check, and your COLA becomes $512.50.
After the COLA increase, those couples who receive $1,000 will get $1,025. That is another $25 extra per month. In a year, that will give you $300 extra per year in one year.
Also Read: Sacramento Family First Stimulus Checks! Who Gets Paid & When?
Here are the new maximum amounts:
- $967 for individuals after the COLA increase
- After COLA, $1,450 per couple if both are eligible
- For an essential person, $484 after COLA
Only low-income Americans who are disabled, blind or at least 65 might be eligible to receive SSI. It is vital to have little or no resources and fulfill the rest of the essential criteria. People who can’t afford to buy food can get the SNAP benefits.
FAQs
Q. When will the December 2024 SSI payments be issued?
A. Supplemental Security Income (SSI) checks and direct deposits will be issued to Supplemental Security Income (SSI) recipients for December 2024 on November 29, 2024.
Q. Is there a payment scheduled for December 1, 2024?
A. The payment of December 1, 2024, will not occur. Payments will be made for all of December’s payments on November 29, 2024.
Q. When will the SSI checks be issued in January 2025?
A. Instead, your Supplemental Security Income that you would have gotten in January 2025 will arrive on January 1, 2025.
Q. What is the COLA for 2025, and how does it affect SSI payments?
A. For 2025, the Cost of Living Adjustment (COLA) will raise benefits by 2.55%. That increase will show up on the SSI checks that are due on December 31, 2024.
Q. How does the 2025 COLA increase compare to previous years?
A. The 2025 COLA increase of 2.55% is below the typical 2.6% COLA increase over the last 10 years, and it is also less than the COLA increase provided in 2024, 2023, or 2022.
Q. What will be the new maximum SSI amounts after the COLA increase?
A. – For individuals, the new maximum SSI amount is $967.
– If both are eligible, the new maximum for couples will be $1,450.
– $484 will be the maximum for an essential person.
Q. Who is eligible for SSI benefits?
A. Low income Americans who are disabled, blind or 65 and older qualify for SSI benefits. To be eligible, one need not have many resources and there is a set of other criteria to be met.
Q. Can I receive SNAP benefits while on SSI?
A. Yes, even those who are eligible for SSI and can’t afford food may receive SNAP benefits.