Americans on benefits from the Social Security Administration are looking forward to receiving money in March. The first payment will be for those on Supplemental Security Income.
Supplemental Security Income is commonly known as SSI. Therefore, if you are on SSI, you will receive your next check on March 1. However, another group of recipients will also get money.
The Social Security Administration has scheduled a retirement and disability payment for March 1 too. Usually, this check is due on March 3, but it falls on the weekend. SSA never sends payments on holidays or weekends.
WHO WILL BE ELIGIBLE FOR 2 PAYMENTS FROM THE SOCIAL SECURITY ADMINISTRATION?
To get 2 checks on March 1, you will have to be on both Social Security and SSI. This is only possible if your retirement or SSDI (disability benefit) is too low. Thus, you can get a supplement from SSA.
Of course, you must meet all the requirements to qualify for SSI and retirement or SSDI. For example, to get SSI, the Social Security Administration will check you have little resources and a low income.
What is more, you must be at least 65 or be blind or have a qualifying disability. Social Security retirement and disability benefits also have requirements. If you have not paid enough taxes you are not eligible.
WHO ELSE WILL RECEIVE MONEY ON MARCH 1?
Apart from SSI recipients and those on SSI and Social Security, there is another group of recipients. For example, if you started collecting payments from the Social Security Administration before May 1997, you will get your money on March 1.
As for the amounts, retirees can get an average payment worth about $1,909. The largest benefit for retirees is $4,873 if they filed at 70. It could be up to $2,710 if they filed at 62 or $3,822 at Full Retirement Age.
SSI recipients can get up to $943 if single. If you are an eligible married couple, you can get up to $1,415. Seniors aged 65 or older get an average payment of just $574.