SSI Payment Schedule and COLA Updates: What to Expect on November 1st?

SSI Payment Schedule and COLA Updates What to Expect on November 1st
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A comprehensive payment schedule for November 2024 has been released by the Social Security Administration (SSA), which includes several important dates for retirees, recipients of Supplemental Security Income (SSI), and recipients of Social Security Disability Insurance (SSDI).

Social Security and SSI

The next significant payout for SSI recipients will be November 1, 2024. For people who receive both Social Security and SSI, including SSDI, this is wonderful news.

The Social Security payment date has been shifted to November 1 by the SSA because November 3 occurs on a weekend. This implies that if you are eligible for both programs, you will get two checks on November 1st: one from Social Security and one from SSI.

This early payment will assist many in paying for important bills before to the start of the Christmas season. Additionally, even if these payments do not yet reflect the 2025 COLA increase, they nonetheless give you a financial boost at the beginning of the month.

Payment of SSI on November 29

Additionally, SSI recipients will infrequently receive a second payment in November. Due to the fact that December 1st falls on a Sunday, the December benefit payment, which was originally planned for November 29, 2024, was brought forward.

Maximum Benefits for SSI

What SSI users can anticipate receiving between November 1 and November 29 is broken down here:

Recipient Type
Maximum Payment (November 2024)
Single Individual$943
Eligible Married Couple$1,415
Essential Person$472

These sums reflect the highest payouts in the absence of the 2025 COLA hike. The SSI benefit can change depending on a person’s unique situation because it is intended to assist those who are aged, blind, or crippled and have low incomes.

An increase in COLA

The 2025 COLA hike will alter the situation, even though the maximum payouts in November 2024 would stay the same. SSI beneficiaries will be the first to benefit from the 2.5% rise in benefits that the SSA has confirmed for 2025.

The COLA adjustment will be reflected in their early December 31, 2024, January 1, 2025 payout. Following the COLA increase, the new maximum SSI payments will look like this:

Recipient Type
Maximum Payment (November 2024)
Single Individual$967
Eligible Married Couple$1,450
Essential Person$484

Read Also: $1,800 Stimulus Payment in October 2024: Who’s Eligible and How to Claim?

Become eligible for SSI

Are you aware of anyone who might be eligible for SSI?

Helping a family member or friend who is blind, crippled, 65 years of age or older, and having financial difficulties right now might be beneficial.

Those who are eligible can get monthly payments to help with basic needs, making the sometimes difficult application procedure worthwhile.

In order to apply for SSI, people must provide comprehensive information about their health and financial status. It is always preferable to help someone with this process, particularly if they are not familiar with the paperwork or are having trouble locating the required documents.

Reference

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With more than two years of expertise in news and analysis, Eileen Stewart is a seasoned reporter. Eileen is a respected voice in this field, well-known for her sharp reporting and insightful analysis. Her writing covers a wide range of subjects, from politics to culture and more.