The Social Security Administration (SSA) oversees the Supplemental Security Income (SSI) program and determines when individuals receive their paychecks. However, these benefits for low-income Americans are funded by the federal government.
The next SSI payments are scheduled for November 29, 2024, and December 31, 2024, according to SSA’s payment schedule. One of them will still make the largest benefit payment in American history. This is because it will include the 2.5% cost-of-living adjustment (2025 COLA) increase.
When will the Federal Government send the largest SSI payment in U.S. history?
Supplemental Security Income recipients will get their highest payout to date on December 31, 2024. Actually, this is the Supplemental Security Income payout for January.
The January payment will be issued on December 31, 2024, rather than January 1, 2025, in addition to the 2025 COLA rise. You might be curious about how the payment will be set up in advance if you are new to SSI.
SSA only sends payouts on business days, just so you know. This adjustment was necessary to expedite the delivery of funds to the 7.5 million Americans who receive Supplemental Security Income because New Year’s is a Federal holiday.
Largest SSI amount in history
The following will be the highest SSI payout amounts:
- individuals who qualify for the largest benefit: up to $967
- eligible married couples who both qualify for the largest benefit: up to $1,450
- an essential person who qualifies for the largest benefit: up to $484
The maximum amount that an individual can currently get from SSI is $943; the maximum amount that a married couple can receive is $1,415; and the maximum amount that an important person can receive is $472.
Remember that SSI is only available to Americans who are blind, crippled, or 65 years of age or older, have little or no savings or bank account balance, and earn very little money. This program may be able to assist you if your retirement benefit or SSDI payment is low.
See Also: Social Security Makes Two Significant Announcements for 2025
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