About 7.5 million Americans receive Supplemental Security Income payments. SSI is a benefit for low-income families and it usually arrives on the first day of the month. Therefore, if you collect your first check or direct deposit on Black Friday, November 29, 2024, you may be surprised. The reason why Social Security scheduled this Federal payment on Black Friday is simple.
December 1 should have been the date Social Security had to set. Nevertheless, it is a Sunday and the Agency never sends checks or deposits on the weekend. Hence, SSA issues the monthly SSI payment on the previous business day. So its offices are open, and so are financial institutions.
SSI amounts on Black Friday
The maximum amount an individual on SSI can receive on Black Friday will be $943. For your information, the November 29 payments will not include the 2025 COLA increase.
So all SSI recipients will have to wait for their monthly payment on December 31, 2024, to get the 2.5% increase. After the COLA boost comes into effect the maximum amount for an individual will become $967.
Going back to current amounts before COLA, an eligible married couple can receive up to $1,415 on Black Friday. From December 31, 2024, onward it will become $1,450. An essential person on Supplemental Security Income payments will receive up to $472 on Black Friday.
Who is eligible for SSI on Black Friday?
To receive Supplemental Security Income payments on November 29, you must have filed and received approval from Social Security. Of course, you must remain eligible to continue getting these monthly payments.
For example, getting married or inheriting a large sum of money may affect your payment eligibility. So, it is essential to report any changes to the Social Security Administration.
In general, you qualify for SSI if:
- you have little or no resources
- you have a low income
- you have a disability, are blind, or at least 65 years old
- meet residency and other requirements