Only 12 payments are made by the program annually, one every month. An SSI check or deposit, however, frequently needs to be sent a day or two beforehand.
This is due to the fact that payments are only made on business days. In addition, financial institutions such as banks are closed on weekends and holidays.
The January payment will now be made on December 31, 2024, as you might have anticipated. The 2025 increase will be included in your new payment. This means that you will get an extra two and a half dollars for every $100 you get from the SSI program.
Who qualifies for the SSI payment on December 31?
You are not eligible if you have not submitted and been approved. You must, however, meet one of the following criteria, have little to no resources, and have a low income in order to be eligible:
- either have a qualifying disability
- or be blind
- or be at least 65 years old
On December 31, 2024, American citizens who fulfill all of these conditions will get their January SSI payment. Other paychecks, such as Social Security retirement or payments, will not be made.
How much money can SSI recipients get in December?
The amount of money you receive will depend on your earnings, benefits, and savings. The Supplemental Security Income program will pay you more if your income and resources are lower.
For instance, you can receive up to $484 as an essential person, up from $472, if you do not receive any discounts. SSI recipients can now get up to $967 instead of $943. However, what about married couples who qualify?
The maximum amount that an eligible married couple can get has increased from $1,415 to $1,450. In case you were unaware, the average payment is far less. For all grantees, the average is about $697. On the other hand, people 65 and older get about $576.
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Eliot Pierce is a dedicated writer for ChiefsFocus.com, covering local crime and finance news. With a keen eye for detail and a passion for storytelling, Eliot aims to provide his readers with clear and insightful analysis, helping them navigate the complexities of their financial lives while staying informed about important local events. His commitment to delivering accurate and engaging content makes him a valuable resource for the community.