If you rely on Supplemental Security Income (SSI), you probably expect your direct deposit on the first of every month. However, January is a little different. Next year, the first falls on New Year’s Day, a federal holiday. Banks and Social Security offices are closed, which means payments cannot be processed on that day.
To make sure you still get your money on time, the Social Security Administration (SSA) will send your SSI payment on December 31, 2024. This early payment ensures there are no delays, so you can have access to your funds as usual.
Who will receive the SSI payment on December 31?
Not everyone receiving Social Security benefits will see a payment this early. If you are an SSI beneficiary, this applies to you. Here is who qualifies for this specific payment schedule:
- Individuals who receive SSI benefits
- Couples receiving SSI benefits
- Essential persons (people who live with someone receiving SSI and provide necessary care or support)
If you receive other types of Social Security benefits, such as retirement or disability payments, your payment schedule may be different.
How much will you receive?
The amounts you can expect to receive depend on your SSI benefit status and include the current cost-of-living adjustment (COLA) for 2025. Here is a breakdown of the payments:
- Individuals: $967
- Couples: $1,450
- Essential persons: $484
These amounts reflect the 2025 COLA increase, which is designed to help beneficiaries keep up with inflation. If you are not sure about your exact payment amount, you can check your latest benefit statement or log into your My Social Security account online.
Will this affect my February payment?
No, the early payment for January does not impact the timing of your February payment. The February payment will arrive on its regular schedule, which is January 31, 2025, as the 1st of February falls on a weekend.
This early payment system is not new. Anytime the first of the month falls on a weekend or holiday, the SSA adjusts the schedule to make sure beneficiaries receive their payments on the last business day of the previous month.
What should you do if your payment does not arrive?
If December 31 comes and you do not see your SSI payment, do not panic. Here is what you can do to resolve the issue:
- Check your bank account
- Ensure your payment was not deposited into your account before reaching out for help. Sometimes, banks process payments at different times during the day.
- Review your payment method
- If you receive a paper check, it may take a few days to arrive in the mail. Be patient and allow time for delivery.
- Contact the SSA
- If you still have not received your payment by January 2, call the Social Security Administration at 1-800-772-1213.
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Frequently asked questions about the SSI payment schedule
1. Why does SSA send payments early, if the first happens to fall on a holiday?
This is to ensure that you receive your money on time regardless of the holiday.
2. Can I change the method of my payment here so that I get it faster?
Yes, if you receive a paper check now, you may change to direct deposit. Direct deposit is faster, safer, and ensures your payment arrives on time.
3. How do I know my payment schedule?
You can log in to your account on My Social Security and see your payments history and benefit statements. This is the most effective way of staying in the loop.
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