On November 29, 2024, all eligible SSI recipients got a cheque or direct deposit for December; nevertheless, the Social Security Administration has scheduled a new payment. It will actually be in your bank account by 2025 if you qualify. This is your Supplemental Security Income check for January.
For your knowledge, payments must occasionally be rescheduled by the Administration. This usually happens on weekends or Federal holidays when the SSI payment is due. On Saturdays, Sundays, and government holidays, payments cannot be made.
No SSI payment on January 1, 2025
The January 1 payment for the Supplemental Security Income program will be made by the Social Security Administration on December 31, 2024. Therefore, in 2024, the 2.5% COLA increase will be applied by direct payment and checks.
In around 22 days, married couples on SSI who are still eligible will get their payout from the federal government. Knowing when you have money is essential for creating your monthly budget for the upcoming year.
January payments will be made to individuals and significant others on December 31, 2024. They won’t be qualified for such a large amount, though.
Who will receive $1,450 from the SSI program on December 31?
Married couples who are eligible for Social Security but do not get any reductions are covered by this. A payout of up to $1,450 can be available to you if you have no money, savings, or income.
If a senior or SSDI claimant also receives Social Security benefits, they could not get the whole amount. Couples will be eligible to receive $1,450 for the first time.
Cost-of-living adjustments will result in a 2.5% rise for all recipients beginning December 31, 2024. While essential people will pay up to $484 ($472 in 2024), individuals will pay up to $967 per month (943 dollars in 2024).
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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.