Millions of Americans have low incomes. About 7.5 million people get Supplemental Security Income payments. SSI benefit payments are made on the first of the month, unless a change in payday is required.
SSI beneficiaries are eligible for a total of 12 payments each year, or one per month. Even if you receive two payments in the same month, one will almost certainly be provided ahead of time and paid for the following month.
Why is the SSI payment for December arriving in November?
For your knowledge, December 1 will be a Sunday. As a result, the Supplemental Security Income payment must be delivered on the prior business day, which requires receiving funds more than 24 hours in advance.
The Social Security Administration‘s payment schedule indicates that it will be sent on November 29, rather than December 1, 2024. A cheque or direct deposit on the 29th will result in a payout 48 hours ahead of schedule.
As a result, SSI beneficiaries must hold the funds they received on November 29 for the next month. Still, it will be handy if you need to pay off debt or a loan and your bank account is in the red.
Who will receive $1,415 from SSI on Nov. 29?
This will be the maximum amount for eligible married couples receiving Supplemental Security Income. To qualify, you must not receive any reductions. This frequently happens when you have no other income and no savings.
Individual SSI participants are eligible for up to $943 in benefits. As of October 2024, recipients of this federal program can expect to receive an average of $697. An essential individual can also get funds from the Supplemental Security Income program.
SSI beneficiaries will get their final payment for 2024 on November 29. Even if a Supplemental Security Income payment is planned for December 31, 2024, it will be made in January 2025.