Retirees and people on disability benefits who also get SSI (Supplemental Security Income) will be really happy to hear this. There will be another payment before the year comes to an end.
Despite the fact that SSDI and retirement beneficiaries received their SSI payment on December 1, there will get another one by the end of the month. However, the bad news is that this is no extra or bonus payment.
Anyway, receiving money is always great news, so get ready and do not forget to plan your monthly expenses to stick to your budget. Not doing so can prevent you from making the most of your SSI, Social 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 are on Social Security, you will get a new payment on December 29. This is mainly because the Social Security Administration does not want to send money on New Year because it is a holiday.
Therefore, the January payment for SSI recipients will be in your bank account. Of course, only if you requested direct deposit on December 29. Allow 3 mailing days if you do not receive your payment on 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 instance, if you are a single person you can get a check worth up to $914. Married couples can receive an SSI payment worth up to $1,371, while essential persons can get up to $458.
HOW MUCH CAN I GET ON DECEMBER 29 FROM THE SUPPLEMENTAL SECURITY INCOME?
The good news is that the SSI payment on December 29 will bring the new COLA increase for 2024. Then, those retirees and people on SSDI who get the Supplemental Security Income will get a 3.2% extra.
As the January payment arrives in December, these beneficiaries will be the first ones to take advantage of the COLA boost. If you get $914 in 2023, you could get $943 in 2024.
Married couples on SSI can obtain a payment of up to $1,371 in 2023 so it will become up to $1,415 in 2024. As you can see, the maximum increase a single recipient can get is $29 extra per month.
Esssential persons will also benefit from the COLA boost. They will get up to $472 in 2024. The average payment for a single person is about $676 in 2023, so do not expect a larger SSI check if you apply in 2024.
