The Social security The administration has informed SSI beneficiaries for their next checking. Fortunately, the next Supplemental Security Income will bring the 2024 COLA increase.
Even if SSI Beneficiaries they get their money on December 29, 2023, that’s the January payment. It should therefore include the latest cost of living adjustment. Regardless of the amount of your check, you’ll get 3.2% more.
The thing is SSI Recipients take the smallest checks. Especially if you are single and have other income. So only those who qualify for higher amounts will get more dollars with this new increase.
WHICH COUPLES WILL RECEIVE $1,415 ON DECEMBER 29?
Couples who are eligible for SSI and you will receive $1371 in 2023 1415 dollars as of December 29, 2023. Remember that you must both qualify for Supplemental Security Income to qualify for these checks. Having a disability, being over the age of 65 or blind, plus low income are the main requirements.
If you are a single person receiving SSI you can get paid by $943. On December 1, 2023, the largest amount was $914. So, as you can see, the highest payment for a single person has gone up $29.
They can also receive important persons Supplemental Security Income. Therefore, they will also collect a higher payment from December 29, 2023. In fact, their new amount will be $472.
The average payments are not as high as the maximum amounts. When the beneficiaries have other sources of income, their SSI checks get a discount. The reason for this is that it is a payment for low-income Americans. The SSA claims that as of November 2023, average payments were $673.86 for all recipients.
SSI PAYMENTS AFTER DECEMBER 29
For your information, the Social Security Administration has confirmed next year SSI payments. Therefore, you can see when your future checks arrive as long as you qualify.
Remember that if you get married, your financial situation may improve. After that, you may no longer be eligible for Supplemental Security Income and you must report to the Administration.
SSI payments will arrive on the first day of the month in February, March, April, May, July, August, October and November. So there will be 4 exceptions and sometimes you will get your payment on a different day. The January payout will be on December 29, and the June payout will be on May 31, 2023.
The September one will be on August 30. And finally the December one SSI check will arrive in your bank account on November 29, 2024. Apply for Supplemental Security Income if you need more money and have low incomes.