The Social Security Administration has planned another payment even though all eligible SSI users got a cheque or direct deposit for December on November 29, 2024.
It will actually be in your bank account before to 2025 if you are eligible. Yes, you have received your Supplemental Security Income payment for January.
For your knowledge, payments must occasionally be rescheduled by the Administration. When the SSI payment is due on a federal holiday or weekend, this usually happens. 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. Consequently, the 2.5% COLA increase will be applied through direct deposit and check in 2024.
Therefore, within approximately 22 days, the federal government will pay all married couples on SSI who are still eligible. Knowing when you have money is essential for creating your monthly budget for the upcoming year.
On December 31, 2024, individuals and key personnel will get their January payments. They won’t be qualified for such a huge sum, 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. For instance, you might be qualified for a payout of up to $1,450 if you had no income, no savings, and no cash on hand.
The entire benefit of Social Security may not be available to seniors or SSDI claimants who receive benefits concurrently. Couples will be eligible to receive $1,450 for the first time.
A cost-of-living adjustment will result in a 2.5% rise for all recipients starting 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).
See Also: USCIS Says These Immigrants Will Get a Bonus for Filing for a Green Card
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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.