The Social Security Administration has confirmed that Supplemental Security Income (SSI) recipients will not receive any further payments until October. This adjustment in the payment schedule has raised concerns among those who rely on these funds to meet their basic needs. If you’re affected by this delay, it’s important to understand the reasons behind the pause and how to manage your finances until payments resume.
The Supplemental Security Income SSI program provides financial assistance to individuals with limited income, disabilities, or those over the age of 65 who do not have enough resources to cover their essential expenses. Managed by the Social Security Administration (SSA), this program offers monthly payments that help millions of Americans make ends meet.
What is the Social Security SSI program and how does it work?
This financial aid is critical for those facing economic hardship as it helps cover basic needs such as food, housing, and medical services. Unlike other Social Security programs, SSI is not funded through Social Security contributions but rather through the U.S. Treasury. This distinction means that the program is specifically designed for individuals who are unable to work or have very limited income.
Key dates in the SSI payment schedule
Here are the important dates for SSI payments for the rest of the year:
- September advance payment: August 29
- October payment: October 1
- November advance payment: October 31
- December payment: December 1
As you can see, there will be no direct payments in September or November, but beneficiaries will have already received their funds ahead of time. Keeping this in mind is essential to avoid any financial difficulties during these months.
Changes to the Social Security payment schedule
Each year, the Social Security Administration establishes a payment schedule for all the programs it manages. While most SSI payments are made on the first of every month, there are times when this schedule changes if the first day of the month falls on a weekend or holiday. In these cases, the payment is moved to the last business day before the scheduled date.
For the remainder of 2024, SSI beneficiaries should note that there will be no payments in September or November. This does not mean that benefits for these months are lost, but rather that the payments were moved up. For example, beneficiaries received their September payment on August 29, and the November payment will be made on October 31.
These adjustments can cause confusion, but it is crucial for recipients to plan their spending around these schedule changes.
How much money do SSI recipients receive?
The amount that SSI recipients receive varies based on their individual circumstances. On average, monthly payments are around $698, but this amount can increase depending on the recipient’s income and resources. For example, individuals who meet the eligibility criteria can receive up to $943 per month, while couples can receive up to $1,415 monthly.
Additionally, some recipients may receive further adjustments if their personal situation changes or if a cost-of-living adjustment (COLA) is approved, which is typically announced in October and goes into effect in January.
What should SSI recipients do if they miss a payment or receive an incorrect amount?
Contact the Social Security Administration (SSA) as soon as possible by calling 1-800-772-1213 or visiting a local Social Security office. Explain the issue with the missed or incorrect payment.
If underpaid, the SSA will investigate and compensate you with a lump sum or increased monthly payments to make up the difference. Provide any documentation that can help correct inaccuracies in your earnings record.
If overpaid, you will receive a notice explaining the error and your options. You generally have to pay the money back, either through a reduction in future benefits or a lump sum refund.
