Beneficiaries of Social Security Disability Insurance (SSDI) will get up to $4,018 in payouts this week. These benefits are meant for workers who have paid their Social Security taxes for a number of years and for people who fulfill specific criteria set by the Social Security Administration (SSA).
As of right now, beneficiaries whose birthdays occur between the first and tenth of any given month will receive their first SSDI payment on January 8, which is the second Wednesday of the month.
Those who were paid on January 15 and whose birthday falls between the 11th and the 20th of any given month fall into the second category.
There is one more payment, though, and it will be made this week on the fourth Wednesday, which is January 22, for anyone whose birthdays come after the 21st of the month.
Who qualifies for SSDI benefits in 2025?
In 2024, the highest SSDI payout is $4,018. Applicants need to fulfill many standards in order to be eligible for this sum. The candidate needs to have worked for 35 years.
To prevent a payment reduction, an individual who wants to apply for SSDI must do so before they reach full retirement age. Additionally, the candidate must have had Social Security coverage for each of their prior occupations.
Lastly, the annual taxable maximum for the 35-year period must be met or exceeded by the applicant’s income history.
The average Social Security benefits in every initiative
Although this amount may fluctuate over time, the average SSDI payout is $1,542 through October 2024 and is anticipated to increase to $1,580 following the 2.5% cost of living adjustment (COLA) in 2025.
For people with lower earnings or fewer years of work experience, payments can be less than typical. Supplemental Security Income (SSI) may also be available to beneficiaries in following circumstances.
According to estimates, the average SSDI compensation in 2024 will be $1,542, and in 2025, it will be $1,580. In 2024 and 2025, the average SSI is projected to be $697 and $714, respectively, with a maximum of $967 in both years.
The next payment for those who receive Supplemental Security Income (SSI) benefits will now be made on January 31 instead of February 1 (a Saturday).
On February 3, payments will be made to other claimants, including those who applied for benefits before May 1997 and those who receive both Social Security and SSI benefits.
See Also: One State’s Final SNAP Benefits Payment Day Is Today: Eight More to Go on for More Days
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.