If you are not just receiving Social Security payments, you may also get an SSI payment on August 1. This will be the first payment date that the Administration has scheduled for Supplemental Security Income.
Generally, the Agency sends the first payment for retirees on the third day of the month. However, this payment may need to be sent in advance because of a holiday or the weekend.
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Important change to Social Security payday in August
The Administration is going to send a payment on August 2, instead of August 3. This will mean millions of retirees will receive their money 24 hours in advance, which may come in handy if they rely on this money to get by.
The reason why Social Security had to reschedule the August 3 payment is because it falls on the weekend. SSA can never send payments on Saturdays or Sundays.
This is simply because the offices will not be open on those days and banks either. That could imply receiving the much-needed money with delay. Something many retirees can’t put up with.
Social Security informs of an SSI payday change for September
As a matter of fact, the SSI payment on August 1 will not be the only one next month. The second one, for September, will be due on August 30, 2024. SSA will send it ahead of schedule because September 1 is Sunday.
So, if you qualify for SSI on August 1, and you are also eligible for Social Security (retirement or SSDI benefits) you will receive 2 payments in a row. Keep in mind that the August 2 payment will be for those on SSI and Social Security at the same time.
But it will also be for those seniors who began collecting payments before May 1997. If you are 62 years old, you can now apply for retirement benefits. To get SSI you must have a disability, be blind, or be at least 65.