Social Security announces changes to SSI payments

There’s not a lot of money left on the table when it comes to SSI Payments. Still, the Social Security Administration (or SSA for short) plans to distribute the rest of the year’s benefits in a different way than usual, with some additional changes. You may be used to receiving your monthly payment on the first of the month. However, things will change throughout November and December. Keep reading to understand why.

How does Social Security plan SSI payments?

Social Security pays SSI payments to at least 7.4 million Americans, following an annual payment schedule that indicates when you can reasonably expect to receive your benefits. However, the badge for Supplemental Security Income payments and the final Old Age, Survivors and Disability Insurance (OASDI) payment are the same color. As a result, there is a danger of making a mistake when searching for the correct date.

The simplest approach to avoid this is to learn how the SSA prepares its activities related to SSI payments. The first step is to understand that SSA divides current SSI Beneficiaries into two categories based on the date they started receiving benefits. The critical date is May 1997. All SSI beneficiaries who started before that date will receive their payments on the third of the month. The rest, who started after the set date, will receive it on the first day of the month.

However, there is a single caveat: if the payment date falls on a weekend or holiday, it will be transferred to the nearest business day. This Technique Will Change Your Typical Payment Schedule Social Security Checks. Still, you want to avoid any type of delay or difficulty that may occur with banking systems when your staff is not fully accessible, which could cause delays in your SSI payments. Considering these circumstances, November and December will provide an interesting outlook for SSI payments. First, people who began receiving benefits before May 1997 will have their November date moved from Sunday, November 3 to Friday, November 1.

The second group (after May 1997) will receive the first November payment on November 1st. In addition, you will receive a second payment in the same month on Friday, November 29th, corresponding to the December payment which is anticipated because December 1st falls on a Sunday, but that’s not all. They will receive another payment in December, bringing the total to three in the last two months of the year. This final Social Security Payment will be exceptional because it is the following year and corresponds to what should have happened on January 1st, 2025. As this date is a holiday, the payment is processed on December 31st, and what is most important, the amount will be increased because it contains the COLA 2025 adjustment.

How much do SSI payments typically cost?

SSI payment amounts vary from case to case and are primarily decided by your monthly income, the amount of assets you have, and any other in-kind benefits you receive for rent, mortgage, or other housing expenses. Remember that the SSA omitted in-kind food benefits from its calculations, so you don’t need to worry about them because they won’t decrease your potential benefit. See how current SSI payments are averaged and how they will appear with the additional COLA increase for 2025:

How can I be part of the program and receive SSI payments?

Contact your local office or visit the official Social Security Administration website. The general eligibility requirements must be 65 or older, blind or disabled, and have limited income and assets (no more than $1,971 and $2,000, respectively).