Federal SSI payouts of $698 will arrive in bank accounts in less than a week

Federal SSI payouts of $698 will arrive in bank accounts in less than a week

The Supplemental Security Income is known as SSI. In this case, it helps people who don’t qualify for Social Security or who only get a small payment from SSDI or retirement.

These SSI checks or direct payments can help a lot of people in the US get by. A low income is not enough to get this money. You also need to be blind, disabled, or at least 65 years old. You must file and get approval, but you must also stay qualified. The question is when these payments will come?

Federal SSI arrives in 6 days

As of October 1, the next SSI payment in the United States will be made by the Social Security Administration. This is the only date that everyone will get paid.

These payments will not include the 2025 COLA yet, even if they do include the 2024 COLA raise. The next COLA won’t come out until December 31, 2024.

On January 1, which is a holiday, Social Security will not send any money, so this is the date that will be used. No, not even on the weekend.

Latest Social Security payment update: Next SSI Direct payment schedule  revealed
Source ecoticias.com

SSI maximum amounts for beneficiaries on October 1

People will be able to get no more than $943 on October 1, 2024. But if you are an important person, this amount might be much lower. In that case, it might only be $472.

Married couples can get up to $1,415, but that’s not twice as much as a single person can get. In fact, it’s a lot less. What if you get SSI on October 1, 2024, SSDI, or retirement payments at the same time? Your Social Security will be sent to you on October 3, 2024.

In less than 48 hours, you will get two payments. It costs about $1,920 a month to get SSI, but only $698 a month to get retirement benefits. You can get about $1,539 from SSDI. Keep in mind that if you have other jobs, your Supplemental Security Income payment might be less than usual.

  • $943 for 1 person
  • $1,415 for married couples
  • $472 for essential persons

Also See:- From October 1, 2024, the U.S. will give SNAP (Food Stamps) payouts of up to $1,756