Across the United States, Supplemental Security Income (SSI) recipients are eagerly awaiting November payments, which will be marked by the 2024 cost-of-living adjustment (COLA). This adjustment is especially important as this year’s payments will be significantly higher than those in 2023, offering many more purchasing power in the face of inflation. While it is true that there are no higher payments over previous months of the year, it is also true that we will get a higher payment than in previous years.
This increase is a response to rising inflation and increased costs for essential products and services. In 2024, SSI payments will experience an increase that is reflected not only in monthly checks but in people’s ability to meet daily expenses. Be that as it may, we must keep in mind that there is an irregularity in the timing of the November SSI payment.
With this increase, low-income people will have a respite from the cost of living. Now, let’s take a look at what you can expect in terms of SSI payments in November and how the COLA will affect the amount of those checks.
The new SSI payments with 2024 COLA added
SSI payments in November 2024 will be slightly larger than the 2023 payments, due to the adjustment for the COLA. This increase will be 3.2%, which means recipients will see an increase in the monthly amount they get. This change is essential to help beneficiaries deal with inflation.
Although the payment in November 2024 will be the same as all other months in 2024, it represents a significant increase over 2023. This year’s COLA will help people who rely on these payments have a little more money for their basic needs.
The days on which Social Security will send November SSI payments are:
- November 1st.
- November 29th.
The reason the payment arrives twice in this month is due to a calendar irregularity. Since December 1st is a weekend, the Administration pays checks earlier so that no beneficiary gets a check later. Even so, it is important to have Direct Deposit activated in order to get the check on the same day it is mailed.
The adjustment reflects the government’s commitment to beneficiaries’ purchasing power, helping to mitigate price increases for food, transportation, and other essential services. In this regard, the COLA is the same as in the remainder of 2024, but the payment is higher than in 2023.
How to Apply for SSI and Maximize Your Payment
For those who are already getting SSI, the November payment will reflect the automatic COLA adjustment. However, if you have not applied for SSI or if you want to verify your eligibility, it is important to follow the necessary steps to ensure you get the correct amount.
To maximize your SSI payment, make sure you meet all eligibility requirements, including things like your age and income level. If you previously worked, the number of years worked and salary may also influence the amount of the help.
With the COLA increase, now is the ideal time to make sure your application is up to date and you are getting what you are entitled to. To date this will be the largest SSI payment in the United States, but in 2025 the COLA will push these benefits a little higher.