Finance

Social Security update: October SSI direct payment worth $943 to go out in 30 days

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September saw the first delivery of the Supplemental Security Income (SSI) check. August 30, 2024, was the deadline for this direct deposit. Applying for this monthly benefit is now necessary if you did not already do it last month.

One advantage of the SSI benefit is that all beneficiaries receive their benefits on the same payday. Nevertheless, each Supplemental Security Income payment may have a different amount. Whether you receive the full amount or not will rely on your income and available resources.

Social Security Income (SSI) payment schedule

According to information released by the Administration, the SSI check or direct deposit will be given out on October 1, 2024. In 2024, there will be three further payments in addition to this one. Yes, you are still qualified for SSI benefits even if you were denied. Receiving additional income may result in a reduction or cessation of Supplemental Security Income checks and direct transfers.

When will Supplemental Security Income start to be paid in 2024?

  • October 1, 2024 is the S.S.I. pay date.
  • Payment of SSI to all beneficiaries will begin on November 1, 2024.
  • Check or direct deposit for December 2024 Supplemental Security Income due November 29, 2024.
  • December 31, 2025, SSI payout for January 1, 2025 includes the 2025 COLA increase.

Social Security established maximum amounts for Supplemental Security Income (SSI) beneficiaries. If qualified, recipients who have no income or cash on hand and do not qualify for other benefits, such as retirement or SSDI, may receive the maximum benefits.

For instance, a person may receive up to $943 in benefits from this federal program in 2024. This year’s maximum amount doesn’t really matter which month it falls inside. Married couples who meet the requirements can get up to $1,415.  Up to $472 may be awarded to essential individuals. The COLA boost won’t be available to recipients until December 31.

Supplemental Security Income claimants must meet certain requirements in addition to having a low income and few or no resources:

  • possess a handicap
  • or get blind.
  • or at the very least be more senior to
Prerna Sharma
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