The Social Security Administration (SSA) sets the paydays for the Supplemental Security Income (SSI) program. However, it is the Federal Government the one that funds these benefit payments for low-income Americans.
SSA’s payment schedule has unveiled that the upcoming SSI payments will take place on November 29 and December 31, 2024. Nevertheless, only one of them will be the largest benefit payment in U.S. history. This is because it will include the 2.5% cost-of-living adjustment (2025 COLA) increase.
When will the Federal Government send the largest SSI payment in U.S. history?
The day when Supplemental Security Income recipients who qualify will receive the largest benefit amount so far will be December 31, 2024. In fact, this is the Supplemental Security Income payment for January.
Therefore, the January payment with the 2025 COLA increase will be issued on December 31, 2024, instead of January 1, 2025. If you are a new SSI recipient, you must be wondering whey will the payment be scheduled in advance.
For your information, SSA only issues payments on business days. Since New Year is a Federal Holiday, this change was necessary to avoid delays in sending money to about 7.5 million Americans who get Supplemental Security Income.
Largest SSI amount in history
The largest SSI payment amounts will be:
- individuals who qualify for the largest benefit: up to $967
- eligible married couples who both qualify for the largest benefit: up to $1,450
- an essential person who qualifies for the largest benefit: up to $484
The current maximum SSI amounts are $943 for individuals, $1,415 for married couples, and $472 for an essential person on the Supplemental Security Income benefit.
Do not forget that SSI is only for Americans who have little or no resources (no money in the bank or on hand), and low earnings and they must be either blind, have a disability, or be at least 65 years old. Having a low SSDI or retirement benefit payment may qualify you for this program.
