If you receive Supplemental Security Income (SSI), you may be wondering if there’s an extra check coming in November. Here’s what you need to know about the upcoming changes to your payments and how the schedule works for the months ahead.
Why are there two SSI checks in November?
Generally, individuals who receive SSI benefits get their checks monthly on the first of the month. Nevertheless, there are cases when this timetable is altered. Thus, for instance, if the first of the month falls on a Saturday, Sunday or a Public Holiday, the Social Security Administration (SSA) pushes the payment date to the nearest previous weekday.
This is true for the month of November 2024. Since December 1 is on a Sunday, payments for SSI will be made on Friday, November 29. Hence, this means that there will be two payments for these recipients in the course of November, the first one being issued on the normal date of November 1 and the other, at the end of the month.
What happens in December?
Though you are expected to receive two payments in the month of November, it should be understood that there shall be no disbursement at the beginning of December. The late November payment, however, will include what would have been paid out on December 1. But fret not, your monthly benefit is still the same, it is just being adjusted because of the dates in the calendar.
Moreover, it is worth mentioning that January 1, 2025 will be a holiday (New Year’s Day), therefore the SSI payment of January will be made on Tuesday, December 31, 2024. And for February 2025, given that the first is on a Saturday, payment will be made available on Friday, January 31.
Cost-of-living adjustment (COLA)
Here’s some good news: SSI beneficiaries will see a slight increase in their late-December payment due to the 2.5% cost-of-living adjustment (COLA). This adjustment will go into effect starting with the January 2025 payment, so that check will reflect the higher amount to help you keep up with inflation.
Payment calendar for 2024 and 2025
If keeping track of these payment changes seems confusing, the SSA publishes an annual calendar outlining payment dates for both Social Security and SSI recipients. For 2024, and now into 2025, this calendar can be a helpful tool for making sure you know when to expect your benefits.
Is my SSI payment changing permanently?
Despite these date shifts, the amount of your SSI benefits will remain consistent month-to-month. The schedule changes are purely based on the calendar. No matter when the payment arrives, you will always receive the same monthly benefit.
How will I receive my SSI payments?
They may be referred to as “checks” by some people, but in actuality, SSI payments are no longer physical. Nowadays, under Federal law all SS payments including SSI, must be made electronically. Hence, in accordance with your preference, you will either receive your benefits via direct deposit in your bank account or via a prepaid debit card.
Understanding SSI vs. Social Security
It is equally important to understand that SSI is not the same as Social Security benefits. SSI stands for Supplemental Security Income, which is a program geared toward an individual need and not based on work performed in the past to qualify for benefits – eligibility is determined by income and resources. It is designed mainly for the aged, blind, or disabled individuals. With Social Security, a person is rewarded for lifetime wage earning and accruing work credits.
Regardless of whether you qualify for both Social Security and SSI benefits or just one, managing your changes in the payment schedule can help you take control of your finances.
