Before 2023, millions of beneficiaries will receive their monthly payment from Social Security Administration (SSA). Remember, if you’re on pension benefits, your amount depends on your work and earnings history. The age you submit can also affect the maximum amounts.
The same goes for SSDI payments. However, if you get Supplemental Security Income (SSI), your benefits depend on your income. Note that SSI payments are only for low-income families.
That’s why not every retiree or SSDI is eligible for Supplemental Security Income. Even if the maximum amounts are available, few receive them. While the largest SSI payment for an individual is $914 in 2023, the average payment is only $676. Social security adjusts your SSI check according to your financial situation.
Who will receive $2,786 in Social Security in December 2023?
Some eligible married couples receiving Supplemental Security Income (SSI) can raise a total of $2,786 next month. That’s because those on SSI will get their first check on December 1st.
They will then receive their January payment from the administration on December 29. Social security will pay the COLA increase on that date. Therefore, SSI beneficiaries will receive a payment on December 1st and another on December 29th.
If you qualify for the largest SSI payment and are a married couple, you will receive $2,786 before 2024 rolls around. This will certainly come in handy because you will have more expenses in December. What more, Social security will give SSI recipients the COLA increase on December 29 as well.
Either way, you should plan your monthly budget and stick to it. Otherwise, you may find yourself without money because you have spent yours Social security payment too fast.
How can SSI get $2786 from SSA in December?
Disabled, blind people or seniors age 65 or older with Supplemental Security Income can receive up to $2,786 for a single cause. They qualify for the highest SSI amount and are married.
For example, if you receive a check for $1,371 on December 1 and $1,415 on December 29, you could receive a total of $2,876. This may not be possible if you receive a reduction in your SSI payment.
Often people have other incomes and this prevents them from getting the biggest possible check. Thanks to the Social Security increase, recipients will get 3.2 percent more in their pay on Dec. 29.
The rest of the Social Security beneficiaries will have to wait for their January payment to enjoy the COLA increase for 2024. On average, they could get about $50. But those on SSI can get up to $29 if single or up to $44 if married.