With the end of 2024 closer than ever, it is important to be aware of dates and changes related to United States Social Security payments and other benefits such as SSI (Supplemental Security Income). In this regard, December 31 will mark a relevant change for SSI recipients in all categories. The payment on that day will be an extra check within the 2024 calendar. Being extra, it will include an adjustment according to the 2025 COLA (Cost of Living Adjustment), which represents an increase for beneficiaries of this program regardless of the amount usually received.
The COLA is an annual adjustment intended to offset cost of living increases, and this 2025 will be no exception, although admittedly it will not be as large as citizens have gotten in recent years. The SSI advance payment will allow beneficiaries to get an increase in their benefits from the beginning of the year, giving them immediate economic relief. It is important to note that this change is specific to SSI payments, and no other changes apply beyond this date, so we should not expect to get more COLA in SSI for the remainder of 2025.
In this context, SSI recipients should be prepared for this change, which is a needed relief in an increasingly challenging economic environment. And this includes age retirees, VA retirees and Disability retirees. Anyone who has access to SSI will be able to access this monthly check on the 31st of December.
Key information about December 31st SSI
The December 31 advance payment will correspond to the January 2025 SSI and will be made with the COLA adjustment, which means recipients will see an increase in their payments. This is good news for those who depend on these benefits for their livelihood, as the COLA is designed to mitigate the impact of inflation on beneficiaries’ incomes. This payment will be made on the date indicated to ensure that next year begins with the necessary financial help.
It is important to emphasize that the advance payment will be the only change of relevance to SSI recipients and no other changes will apply as of December 31. Therefore, attention should be paid to the date so as not to miss the opportunity to get this extra benefit. Moreover, it is important to say that without Direct Deposit it’s impossible to get the SSI in the same day. If we do not have this colecction method we will have to wait up to 3 days to get the money, so it will probably be available in 2025.
SSI Minimum Eligibility Requirements
In order to be eligible for SSI, certain fundamental requirements must be met. If we do not meet these requirements we will not be able to apply for this monthly benefit. These mandatory requirements for SSI are:
- Age or disability: The beneficiary must be 65 years of age or older, or be a person with a disability. Both requirements are interchangeable, but if both are met, there is no problem in applying for the payment.
- Residency: You must be a resident of the United States. It is also possible to have SSI in certain partner territories.
- Limited Resources: A person’s resources must not exceed the limit set by the Social Security Administration. This includes cash, property and other assets.
- Limited Income: In addition to resources, income must also be below the threshold that qualifies for SSI.
By meeting these requirements, recipients can access monthly SSI payments, which are intended to help people with low incomes meet their basic needs. These requirements may vary on a case-by-case basis, so it is advisable to review the updated regulations for the most accurate information.
The best way to find out whether or not we are eligible for this monthly benefit is to apply for it. Once we start the application process, we can find out soon after, thanks to the Social Security Administration, whether or not we will get an SSI check of up to $943 each month.
