If, like most American seniors, you rely on the Supplemental Security Income (SSI) for covering your expenses, there is good news: you will receive your January payment earlier than usual. Normally, the SSI payments are sent out on the first of every month, but since the first of January falls on a federal holiday (New Year’s Day), the Social Security Administration (SSA) will distribute the payment on the last business day of December—in this case, December 31st. This way, you will still get your money on time regardless of the holidays.
Who qualifies for SSI payments?
The federal SSI program can help millions of Americans with limited income and resources. To qualify, however, you must meet the following criteria:
- Age or disability—you must be 65 years or older, blind, or disabled according to SSA criteria.
- Financial need—less than the maximum income and resources defined by SSA. For example, in 2023, an individual must have less than $2,000 in countable resources, and a couple would have less than $3,000.
- Citizenship or residency—You must be a U.S. citizen or a qualifying non-citizen and need to be living in or in a territory of the United States.
How much will you receive in January?
Your eligibility status and living conditions are factors that decide the amount you will receive. The current 2025 cost-of-living increase is incorporated into these payments already. Therefore, you will receive a bit more money than last year’s. Here are the amounts you can expect to receive based on your filing status:
- Individuals – $967/month
- Couples – $1,450/month
- Essential Persons – $484/month
An “essential person” is one who lives with and provides the needed care to an SSI recipient.
When will you see the payment in your account?
On Tuesday, December 31, 2024, your January SSI payment will be deposited into your account. Here is what you need to know:
- Direct deposit users: If you get your SSI payment via direct deposit, don’t expect any delay, your money will be deposited by December 31.
- Paper check recipients: If you receive your payments through the mail, expect delays typical of mail services.
What should you do if the payment is delayed?
Steps to take if you do not receive your payment on the scheduled date:
- Wait a few days: There can be some delays with processing, especially direct deposits.
- Go online to track your payment status: Have a look at your My Social Security portal to see if your payment was actually issued.
- Call SSA: If it still is not there, call the Social Security Administration at 1-800-772-1213 (TTY 1-800-325-0778) for follow-up after a few days.
How can you prepare for early payment?
Here are some ways to help you budget your payment:
- Prepare early: Payment in January will be followed by a normal payment cycle for February, hence, you need to make sure you manage your expenses until your next payment.
- Set reminders: You can mark December 31st on your calendar so you can keep track of your money.
- Check your account: You have to check and confirm again that your bank account info is updated so that there will be no problems regarding direct deposits processing.
Read more: Social Security Calculator: How much Social Security will I get if I make $100,000 a year?
Will this happen again?
This kind of situation will happen any time the first day of a month falls on a weekend or federal holiday, and it is for this reason that the SSA adjusts the payment schedule, so you do not have to wait unnecessarily.
Why is COLA important for SSI recipients?
Cost-of-living adjustments (COLA) are given annually to Social Security and Supplemental Security Income (SSI) beneficiaries as a measure against inflation. For example, in 2023, COLA raised payments by 8.7 percent. This ensured that you had a bit more money to pay for your ever-increasing essentials, such as food, housing, and medical care, this year. To most, it might not seem like much, but to someone on a fixed income, every little bit counts. The COLA is out for 2025 as well, and you will see a slight difference in your payment amount on December 31.
Continue reading:
What is the Social Security Fairness Act and how could it affect you?
