The Supplemental Security Income (SSI) is about to send millions of dollars in payments to eligible beneficiaries. Do not forget that the last payment for these recipients was back on September 29, 2023.
It was ages ago, especially for families who are short of money and rely on this support from SSI checks. While retirees may have four payments and they are eligible for only one, those on Supplemental Security Income have no choice.
The payday is always the same for all the SSI recipients. During the month of November, there will only be one payment as usual. This payment will not include the 2024 COLA increase though.
When will SSI beneficiaries receive their payment in November?
SSI recipients will cash a new check on November 1, 2023. According to the Social Security Administration and its payment schedule, this will be the day when they can receive their money.
Therefore, there will not be another payment until December 1, 2023. The thing is that Social Security will send two SSI payments in December to all beneficiaries.
Despite the fact that it looks like a bonus or extra payment, it is not. The second check that SSI beneficiaries will collect on December 29 is from January. Keep in mind that the Administration does not send checks on New Year.
The reason SSA does not pay on January 1, 2024, is because it is a holiday and banks do not open. In this way, they can avoid any sort of delays or complaints from recipients who did not get their money on time.
What is the average check for SSI recipients?
As of September 2023, the average SSI check is 676 dollars for all recipients. If you are on Supplemental Security Income but you are 65 years old or older, the average check is even lower.
This may be because you are also collecting retirement benefits at the same time. The average SSI payment for 65-year-olds or older is 552 dollars. If your age is between 18-64, you may receive a larger check.
In fact, you can obtain up to 718 dollars on average. Do not forget that some children may qualify for these payments too. Actually, they are the group with the highest average check and it is worth about 797. Visit SSA for more details.
The 2024 COLA will make all Social Security payments much larger. Supplemental Security Income beneficiaries may cash up to $943 in 2024. Married couples who can now receive up to 1,371, may cash up to $1,415 in 2024. Essential persons’ checks go up from $558 to $572.