Eligible recipients will receive their payment of $841 on Sept. 30, equaling a total of $1,682 for the month after receiving another payment at the beginning of the month, according to the Social Security Administration. September is one of three months in the year in which people receive two Supplemental Security Income payments. The other two months with two installments this year are April and December.
The double payments offset the months in which no payment is sent out to ensure eligible recipients receive 12 payments a year, according to the schedule. These months include January, May, and October for the 2022 calendar year because the first day of those months fell on either a holiday or a weekend.
Eligible couples will receive two payments of $1,261 for the month of September. Essential persons, meaning someone who lives with a person receiving Supplemental Security Income and provides necessary care, will receive two payments of $421 to be paid out on the same days.
Next year, Social Security payments will likely rise due to growing inflation rates, analysts said. But some people may end up earning less than what they receive right now because the increase in payments could place them in higher tax brackets.
The Social Security Agency has issued Supplemental Security Income payments to eligible individuals and couples since January 1974, providing financial relief for those with limited incomes and resources. Based on the current rate, Social Security will be unable to pay out in full by 2035, according to Nexstar Media Wire.