Most people who get Social Security (SSDI and retirement income) are almost done with their August payments. But for people who get Supplemental Security Income (SSI), they are about to begin.
There will be a lot of money coming your way next week if you are eligible for Social Security or SSI. Three types of people who get retirement or SSDI benefits have already gotten their money in August and cannot get more this week.
Social Security payments on August 28
The next payment for people on SSDI and retirement will be on August 28. You will not be able to get benefits, though, if you are getting SSI or if you got them before May 1997.
People who are retired must have been born between January 21 and December 31. It doesn’t really matter what month or year you were born as long as you’ve already applied and the Administration has given their OK.
A retired worker can expect to get about $1,919 a month in August. Still, they could get up to $4,873 if they filed when they were 70, made the most they could have for 35 years, and had jobs that paid enough in taxes to SSA. SSDI payouts range from $1,537 to $3,822 for people who make a lot of money.
Social Security rescheduled the SSI payday
The SSI was due on August 1, 2024. That’s why there are no more payments to make this month. But the September SSI payment can’t be sent on September 1, 2024, a Sunday. That’s why Social Security has set the August 30 payment date for Supplemental Security Income.
Social Security never sends money on weekends or government holidays. Banks and offices would be shut down, making it impossible to send bills on time every month. SSA sends money ahead of time to avoid this.
The average SSI payment will be $695. Some recipients may be able to get the $943 payment for people, which is the biggest one. Married people who qualify can get up to $1,415. On August 30, 2024, important people can get a cheque for up to $472.