SSI beneficiaries will receive the first COLA increase payment in 2024 on this date

SSI is Supplemental Security Income and it's only for low-income Americans. This payment can be for 3 groups of people. Individuals, married couples and significant others can qualify for these monthly checks.

Remember that if your financial situation improves, you may no longer be eligible for SSI. It is therefore vital that you keep informed of any changes in your personal situation.

For example, if you get married or get a new job, you may lose yours Supplemental Security Income payments. If you're still eligible, the Social Security Administration has announced the next pay day.

WHEN WILL SSI RECIPIENTS GET THEIR FIRST COLA PAYMENT IN 2024?

The Social Security Administration's payment schedule revealed this Supplemental Security Income will be due to February 1st2024. Therefore, this will be the day when all recipients will be able to collect

SSI recipients will receive their second payment with the COLA increase and the first in 2024

The thing is, this will be the first Supplemental Security Income check in 2024. The January 1st payment was due on December 29th. It was shipped in advance to avoid delays due to the New Year holidays.

Note that the Social Security Administration never pays checks on a holiday. SSA does not send money or on the weekend. Therefore, this will not be the only occasion SSI recipients receive their payment in advance.

For example yours SSI will arrive on May 31st, not June 1st. As it falls on a Saturday, you will receive it on the previous business day. Now let's look at the possible amounts.

AMOUNTS OF ADDITIONAL INSURANCE INCOME AS OF FEBRUARY 1

The amount you can get will depend on your financial situation, the number of eligible people in your household and the income you have. Therefore, it will depend on several factors.

However, it is possible to look at two key figures. For one thing, some SSI beneficiaries may be eligible for the largest check. This check is worth $943 if you are single.

Married couples can receive up to $1,415 on February 1, 2024. Principals will receive the smallest payment. They can receive up to $472. Since the COLA increase, payments have increased by 3.2%.

So a person can get up to $29 extra per month. A married couple can get up to $44 extra per month. The average SSI check is worth $673 as of November 2023. Those who are under 18 and receiving these benefits can receive an average of $785.

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