The Supplemental Security Income (SSI) program is run by the Social Security Administration (SSA), which decides when people get paid. But the Federal Government is the one who pays for these benefits for Americans with low incomes.
Based on SSA’s payment schedule, the next SSI payments will happen on November 29, 2024, and December 31, 2024. The biggest benefit payment in U.S. history will still be made by only one of them. This is because the 2.5% cost-of-living adjustment (2025 COLA) increase will be part of it.
When will the Federal Government send the largest SSI payment in U.S. history?
December 31, 2024, will be the date that people who qualify for Supplemental Security Income will get the most money so far. In fact, this is the January payment for Supplemental Security Income.
Along with the 2025 COLA increase, the January payment will be sent out on December 31, 2024, instead of January 1, 2025. If you are new to SSI, you may be wondering how the payment will be set up ahead of time.
Just so you know, SSA only sends payments on business days. Because New Year’s is a Federal Holiday, this change had to be made so that money could be sent to the 7.5 million Americans who get Supplemental Security Income more quickly.
Largest SSI amount in history
The largest SSI payment amounts will be:
- 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
At the moment, the most a person can get from SSI is $943, the most a married couple can get is $1,415, and the most an essential person can get is $472.
Make sure you remember that SSI is only for Americans who are blind, disabled, or at least 65 years old, have little or no money saved or in the bank, and make very little money. If your SSDI or retirement benefit payment is low, you might be able to get help from this program.
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