SSI is a Federal payment for low-income recipients with little to no resources. One thing you should know is that these benefits will increase before Social Security payments do so. This is because the Supplemental Security Income for January will be issued before the usual date.
SSI payments tend to be issued on the first day of the month. However, when they fall on the weekend or on a Federal Holiday, they need to be delivered on the previous business day said Social Security. Unlike retirement or SSDI benefits, Supplemental Security Income checks are Federally funded.
The exact date SSI benefits will increase
Supplemental Security Income payments will increase on December 31, 2024. Since New Year’s Day is not a business day, SSA has scheduled this monthly payment 24 hours in advance.
Receiving this SSI payment ahead of schedule will mean a lot for those retirees who have run out of money by then. Not to mention the fact that getting a few dollars extra will come in handy. On average, SSI benefits will increase by about 17 dollars.
That is less than 20 dollars, a lot less than the average 50-dollar increase Social Security estimates for retirement beneficiaries. Remember that this benefit is a supplement, so it is not meant to be the main source of income. That is why many eligible recipients do not qualify for the full amount and they get a reduction from the Social Security Administration.
SSI maximum amounts after 2025 COLA
The 2025 COLA increase will make SSI payments go up to $967 for individuals and $1,450 for eligible married couples. The current amounts are up to $943 if you are single and up to $1,415 if married.
Essential persons will get up to $484 after the 2025 COLA, up from $472. 3 more fascinating things about SSI benefits are:
- these benefits may arrive twice per month when a check is issued in advance
- some non-citizens may qualify for these benefits, check eligible categories of non-citizens
- can be collected while on Social Security or SNAP benefits