The Supplemental Security Income payments have the new dates for the month of December. Social Security has confirmed the new dates when SSI beneficiaries will receive their monthly check.
Generally, the Administration sends SSI payments on December 1, and this is no exception. So, your next Supplemental Security Income check will arrive on the very first day of the month.
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However, it is not always on the same day and you need to know it as soon as possible. If you get SSI, it means you are on a low income. Therefore, it is of vital importance that you plan your budget and your paydays in advance.
Why will some eligible SSI beneficiaries receive up to $1,857 in December?
This will be because Supplemental Security Income beneficiaries will get two checks during the month of December. However, there is no bonus or extra payment in December.
Keep in mind that the Social Security Administration only pays 12 SSI checks per year. It is true that SSA needs to send money in advance sometimes because of a holiday or non-business day.
When there is a check and it is due on a holiday or on the weekend, Social Security sends it on the previous business day. In this way, there is no problem of getting the money too late.
Instead, SSI beneficiaries will cash their money 2 or 3 days in advance. For example, the January 1 payment will take place on December 9. Remember that on January 1 banks are not open.
Will the amounts be the same for the SSI payments on December 1 and December 29?
No, there will be different amounts for both checks. For example, if you receive a check worth $914 on December 1, you will get $943 if still eligible on December 29. Therefore, you will cash $1,857 in December from SSI.
By now you must be wondering why you will cash more money on December 29. Simply, you will collect a 3.2% increase from Social Security. Thus, thanks to the 2024 COLA Supplemental Security Income recipients will receive a rise.
A married couple on Supplemental Security Income who gets 1,371 dollars on December 1, may receive 1,415 dollars on December 29. Essential persons will also have a difference check. An essential person on SSI can collect up to $458 in 2023.
From December 29, an essential person can collect a payment of up to $472. So, this 3.2% increase will help recipients maintain their buying power. Do not forget that inflation and soaring prices make it more difficult to make ends meet.