Beneficiaries of Supplemental Security Income are poised to get their next batch of monthly payments of up to $841 in 19 days.
The $841 payment will come Dec. 1, and for eligible couples, the amount could total up to $1,261, while essential individuals living with someone on SSI and providing care could receive payments of up to $421.
SUPPLEMENTAL SECURITY INCOME PAYMENT: MONTHLY $841 CHECK TO BE SENT TO MILLIONS IN 21 DAYS
By the month’s end, SSI recipients will garner an inflation-boosted check of up to $914 on Dec. 30, according to a schedule from the Social Security Administration. Typically, SSI checks are rolled out on a monthly basis, but the double payment next month is due to a scheduling quirk caused by the holidays.
Payments are generally delivered on the first of the month, but when that falls on a holiday or a weekend, they are often doled out on the last weekday before the first of the next month. The double-payment quirk took effect for January, May, and October of this year and will take place in January of next year as well.
SSI is slated to get a cost-of-living boost of $73 per month in 2023, compared to the payments in 2022, due to inflation. This has resulted in the $914 figure for the Dec. 30 payment. Social Security payments are broadly slated to get an 8.7% cost-of-living adjustment next year.
Couples on SSI who receive about $1,261 a month will get a boost up to $1,371 for next year’s monthly payments, according to CNBC.
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The SSI program was designed to provide fiscal relief to people with disabilities. Over 7 million people get payments from SSI, while an estimated 65 million receive Social Security checks. SSI began in 1974.
