Supplemental Security Income (SSI) benefits are a type of check that helps many households in the United States pay their monthly bills. Thanks to this extra benefit, Americans who have access to it have far fewer financial problems. In addition, the payment of this check increases every year thanks to the COLA, as is the case with retirement payments.
In this sense, if the same citizen has a Supplemental Security Income (SSI) payment and a Social Security payment, he or she can get a raise for each of them. This increase can make a big difference in the amounts, since each year is different. What is certain is that in this year 2024 recipients of all benefits get 3.2% more than they got in the previous year.
Therefore, we are looking at a payment of $943 per month versus a payment of $914 in the previous year 2023. So if we add up all the increase for the year we get a much higher figure. In short, if you have a Supplemental Security Income (SSI) payment you can enjoy this extra check to spend it on whatever you want and in this year 2024 with the aforementioned increase.
When does the September 2024 SSI arrive?
One of the most striking things about the Supplemental Security Income (SSI) payment schedule is that sometimes we can get our benefit check before the month in question begins. And in this case we run into this situation, since the Social Security Administration will not send out a new check within the days of September.
The reason for this is very simple. Since the Social Security Administration does not send out benefit checks on holidays or weekends, September 1st cannot be Supplemental Security Income (SSI) payment day. Since that day will be a weekend, the SSA will pay the check on the immediately preceding business day. And this day will be exactly August 30th, 2024.
SSI Increase for 2025
It is still too early to determine the Supplemental Security Income (SSI) increase we will get in 2025. What we can say is that the COLA will be announced in October of this year. The increase will depend on the CPI-W increase in the third quarter of the month. This means that depending on inflation in July, August and September we may have a higher or lower COLA in 2025.
Be that as it may, the increase will be effective from January next year. Moreover, this increase will be for all United States citizens. It should also be noted that not only citizens with Supplemental Security Income (SSI) may get the COLA increase, as retirees, regardless of benefit type, will also enjoy an increase in their monthly benefit.
