The Social Security Administration’s payment schedule has brought interesting news for Supplemental Security Income (SSI) recipients in the United States. August 1 will be the first day when eligible recipients can get money next month.
However, it will not be the only payment for SSI recipients in August. If you are 65 years old and you have a low income, you may be eligible for Supplemental Security Income payments, but filing and approval is mandatory.
SSI payment not just on August 1
Even if all eligible recipients will get a Supplemental Security Income check or direct deposit on August 1, it will not be the only payday for them. What is more, this payment is not exclusive to 65-year-olds.
Some people with a disability or who are blind may be eligible for SSI as well. So, all of them may also receive a new payment before August comes to an end.
Social Security has scheduled a payment for August 30, 2024. To get money on this day you must remain eligible. In fact, it is the payment for September sent in advance.
It must be sent ahead of schedule because Social Security never schedules payments when its offices are not open. In this way, banks are open on August 30 and will have more time to process all payments for SSI beneficiaries. This change will bring 2 payments in August.
SSI payment amounts in August
The amount of money you could receive from SSI in August will depend on the earnings and resources you have. For example, if you do not get any reductions, you could get up to $943 if you are single or $1,415 if you are married.
Average payments tend to be much lower, especially if you are age 65 or older. In this case, you can get about $574 on average because many seniors aged 65 get retirement benefits at the same time.
Those aged 18-64 can receive about $743. The average payment amount for all recipients is about $697. Bear in mind that there will be no COLA increase until December 31, 2024. So, the maximum amounts will be the same on August 1st and 30th.