There’s a huge upheaval in the SSI payment schedule that the SSA came up with for September 2024. Since the beginning of the month fell on a weekend, one wouldn’t get the usual SSI payment on September 1. The earlier-than-usual payment has confused many beneficiaries. This article will clearly explain the payment schedule and its implications for SSI recipients.
Understanding Supplemental Security Income (SSI)
Supplemental Security Income is a federal program designed to provide financial assistance to aged, blind, and disabled persons with limited income and resources. Unlike Social Security benefits, which are financed by payroll taxes, SSI is financed by general tax revenues. The program’s objective is to aid beneficiaries in meeting their basic life needs, such as buying food, shelter, and medical care.
For 2024, the highest federal SSI payment will be $943 for individuals and $1,415 for couples. COLA is added into these sums. It’s an adjustment made from time to time so that benefits stay abreast with rising inflation.
September payment schedule changes
Generally, SSI payments are made on the first day of every month. In the event that the first day falls on a weekend or holiday, then the payment will be made on the last business day of the previous month. This year, September 1 falls on a Sunday, which forced the SSA to bring the payment one month in advance to August 30, 2024. Also the SSA has announced that no payments will be made to senior citizens over the age of 65 as they will be receiving a double payment in the month of August. That basically means there won’t be any SSI payment this September, a factor that has caused a little confusion and concern among beneficiaries.
This change means that recipients will receive two payments in August, one on August 1 and the other on August 30, while there will be no payment issued in September. As has been the case in previous years, a similar occurrence is bound to repeat itself in November 2024, when the first also falls on a weekend.
How this will affect recipients
This could make a big difference to SSI recipients. Most people receive these payments to help pay for monthly expenses, and missing a September payment might throw off this budgeting. Beneficiaries need to know about this adjustment and adjust accordingly.
Those who receive their funds via direct deposit will see the money in their account on the regularly scheduled payment date. Those relying upon a paper check, however, may feel some delay—especially if they have not accounted for this change within their financial budgeting.
How to prepare for the payment change
The following may help SSI recipients minimize the impact of the September change:
- Budgeting: Since the month of August shall have two payments and none in September, beneficiaries are to budget well in order to sustain their needs in September.
- Track payments: Beneficiaries must be keen on their dates of payment and the amount paid. This avoids confusion. The SSA advises people to wait for three extra mailing days in case a payment is missed and then call the agency.
- Staying informed: Beneficiaries should periodically log on to the official SSA website or visit the local SSA office to stay current with their payments and any alterations in the schedule.
The news of no SSI payments in September 2024, as a result of revising the payment schedule, has infuriated recipients. This means that while the SSA works to make sure it has sufficient time to make the payments, this August 30 early payment will leave beneficiaries a month long without their usual support. Budgeting and being well-informed can make it easier to get by during those months for SSI recipients. For those whose everyday livelihood depends on these funds, every single detail related to the payment schedule is of very huge importance to fully know.
