Supplemental Security Income (SSI) recipients will soon get their next payment, which is set for December 31, 2024. This is despite the fact that they already got their December payment on November 29, 2024.
This payment is not for December; it is for January 1, 2025. Because of the federal holiday on January 1, SSA offices and banks will be closed. As a result, the SSA has changed the schedule so that recipients get their money 24 hours early.
Benefits of Advanced SSI Payments
The early payment allows recipients to access their funds sooner, which can be crucial for those facing financial challenges. While SSA’s online services remain operational during holidays, payments are never issued on January 1.
SSI Payment Details
The maximum SSI payments for 2024 include:
- Married Couples:Â Up to $1,550, an increase from previous limits.
- Single Individuals:Â Up to $967, up from $943.
- Essential Persons:Â Up to $484.
These numbers show the highest payments that people who are not getting cuts will make. People who get Social Security Disability Insurance (SSDI) or retirement benefits usually have their benefits cut.
As of November 2024, the average amount of money that most SSI recipients get each month is $698. SSI recipients aged 65 and up get an average of $575 because many of them also get retirement benefits.
What’s Next for SSI Payments
All SSI payment categories will see a 2.5% increase in 2025, thanks to the Cost of Living Adjustment (COLA). For those feeling their payments are insufficient, programs like the Supplemental Nutrition Assistance Program (SNAP) can provide additional support.
Bottom Line
The changed SSI payment schedule makes sure that people who are supposed to get money in January 2025 get it without any delays because of the holiday.
As benefits go up a little over the next year, people who are eligible are told to look into extra programs if they are having trouble paying their bills.
