Social Security update: $914 payment to be sent in 29 days.
Get Ready for Your September Payment from the Social Security Administration
Exciting news for recipients of the Social Security Administration’s Supplemental Security Income program! In just over four weeks, you’ll be receiving your first payment for September. And guess what? It’s worth up to $914 for individual filers!
Mark your calendars for September 1st, because that’s when the payment will be sent out. But wait, there’s more! Due to a scheduling quirk, you’ll also receive a second payment on Friday, September 29th, which will take the place of October’s payment. How awesome is that?
Why the Extra Payment?
Normally, beneficiaries receive one payment each month. However, this year, there are four months when you’ll get two checks. Those lucky months are March, June, September, and December. The reason behind this is that the first of the month falls on a weekend in April, July, and October, and let’s not forget that January 1st is always a holiday. But don’t worry, this adjusted schedule ensures that you still receive 12 checks per year. The months without payments are April, July, October, and January.
How Much Will You Receive?
The amount of money you’ll receive each month depends on the category you file under. Eligible couples can receive up to $1,371 each month. If you file independently, you can see as much as $914 every month. And for those essential people who live with and care for SSI recipients, you’ll get a monthly payment of up to $458. Keep in mind that not every recipient receives the maximum payout.
To qualify for the Supplemental Security Income program, you need to be over 65 and meet specific financial requirements. However, if you’re under 65, you could still qualify if you’re at least partially blind or have a physical or mental condition that seriously limits your daily activities for at least one year or is expected to result in death.
Did you know that SSI payments have been issued since January 1974? And the good news is that payment rates have increased for cost-of-living adjustments since 1975. In fact, the COLA for 2024 is projected to be an approximately 3% increase based on June’s numbers. We can’t wait to see what July’s numbers will bring!
So get ready, mark your calendars, and look forward to your September payment from the Social Security Administration. It’s just around the corner!
Click here to read more from the Washington Examiner.
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