After the September 29 SSI payment, there was another one on November 1. As you can see, payments are not always on the same date and it depends on holidays and weekends.
If your payment is due when there is a holiday or on a Saturday or Sunday, you will get your money in advance. So, getting your cash a few days early is not uncommon and Social Security does it like that.
Before the year comes to an end, SSI beneficiaries will collect two more payments. Yes, that is right. In order to check it, you just need to have a look at the Social Security payment schedule for 2023 or even 2024.
When will Social Security send the next SSI payment?
The following SSI check is going to be in your bank account if you get a direct deposit on December 1. In this case, there will be no exception and no advance payment either.
Many Supplemental Security Income beneficiaries wonder when they can collect a payment of up to $943. This is the new maximum amount thanks to the 2024 COLA boost.
However, the December 1 payment will only have the 2023 COLA increase. So, you will need to wait to cash the extra money a little longer. The new COLA has brought a 3.2% jump, much smaller than the 8.7% from last year.
Even if it is not such a large boost, it is much higher than on other previous COLAs. Do not forget that COLAs and inflation go hand in hand and it changes from one year to another. These increases can help SSI and other Social Security beneficiaries maintain their buying power.
How many SSI payments are there in December 2023?
As a matter of fact, there will be two Supplemental Security Income payments. The first one will be on December 1. Then, there will be another Supplemental Security Income payment before the year comes to an end.
Bear in mind that the SSI payment will take place on December 29. But this money if for January and not for December. Thus, it is important that you keep this cash and you do not overspend it.
Actually, Supplemental Security Income recipients will be the first ones to cash the 2024 COLA boost. As their January payment due on January 1 is sent three days before, they will enjoy their new amounts.
Getting a little extra money will be essential. Even if a 3.2% jump does not seem like a lot, it can make a difference over time. The new amount for a married couple who is eligible will be $1,415, up from $1,371.
Saving that extra money per month will help you create an emergency fund. Investing or using it for unexpected expenses is another possibility. Individuals who qualify for $943 will get 29 extra dollars. Essentials persons’ amounts change from $458 to $472.