Pensioners and the people of impairment benefits they also receive SSI (Supplemental Security Income) would love to hear that. There will be another payment before the end of the year.
Despite the fact that SSDI and pension beneficiaries got theirs SSI payment on December 1st, you will receive another one by the end of the month. The bad news, however, is that this is not an additional or bonus payment.
Anyway, getting money is always great news, so get ready and don’t forget to plan your monthly expenses to stick to your budget. Failure to do so can prevent you from getting the most out of it SSIsocial security retirement or disability benefits
WHEN WILL RETIREES AND SSDI BENEFICIARIES RECEIVE THEIR NEXT SSI PAYMENT IF ELIGIBLE?
If you receive SSI Benefits while you’re on Social securityyou will receive a new payment on December 29. This is mainly because the Social Security Administration does not want to send money on New Year’s Day because it is a holiday.
Therefore, the January payment for SSI the recipients will be in your bank account. Of course, only if you requested direct deposit on December 29th. Please allow 3 days for mailing if you do not receive your payment in time.
The amount of your SSI checks in 2023 depends on your financial situation and personal circumstances. However, the maximum amounts are the same for those who qualify.
For example, if you are single, you can receive a check worth up to $914. Married couples can get SSI payment worth up to $1,371while essential workers can receive up to $458.
HOW MUCH CAN I RECEIVE ON DECEMBER 29 FROM SUPPLEMENTARY INSURANCE INCOME?
The good news is that SSI the Dec. 29 payment will trigger the new COLA increase for 2024. After that, retirees and people on SSDI who receive Supplemental Security Income will get an extra 3.2%.
Since the January payment arrives in December, these beneficiaries will be the first to benefit from the COLA increase. If you get $914 in 2023, you can get $943 in 2024.
SSI married couples can receive a payment of up to $1,371 in 2023, so it will go up to $1,415 in 2024. As you can see, the maximum increase a recipient can receive is an additional $29 per month.
Important people will also benefit from the COLA boost. They’ll get up to $472 in 2024. The average payment for a single person is about $676 in 2023, so don’t expect a bigger SSI check if you apply in 2024.