Don’t pass up this federal payment, which will grow by 2.5% in 2025 due to the COLA. Although Social Security does not pay for the Supplemental Security Income program, you can schedule an appointment at one of the Administration’s offices or begin your SSI application online at https://www.ssa.gov/apply/ssi. Having no resources and no income will not be sufficient to qualify.
Remember that you must be at least 65 years old or have a disability (such as blindness) in order for Social Security to approve your application for SSI benefits. If you don’t file, you won’t be able to get up to $11,604 annually from the federal government.
You can receive up to $11,604 annually from SSI payments
All Social Security and Supplemental Security Income benefits will increase as a result of the 2025 COLA increase. Recipients will be better equipped to handle rising costs and inflation in this way.
For those receiving SSI benefits, the new monthly maximum will be $967. In 2024, the current sum is $943. Thus, the increase will be roughly twenty-four dollars more a month.
In 2024, the annual limit is only $11,321.49. As a result, all eligible SSI beneficiaries will get an additional $283 year.
Read Also: Want $5,180/Month from Social Security in 2025? Here’s How in 3 Step
When will the amount of SSI payments rise?
SSI recipients will receive the rise before the end of 2024, even though the COLA increase is scheduled for 2025. The 2.5% increase after COLA will actually be paid to Supplemental Security Income initially.
The increase will take effect on January 3, 2024, for Social Security recipients receiving retirement or SSDI benefits. When will SSI recipients receive this modest raise, then?
According to SSA, Supplemental Security Income payments will be made in January on December 31. Therefore, 7.5 million Americans will receive this additional money on New Year’s Eve. Check out the upcoming SSI post for married couples who qualify.
