Millions of Americans are preparing for Black Friday shopping, and for some, Social Security payments are part of their budget planning.
This includes retirees, disabled individuals, and those receiving Supplemental Security Income (SSI). The Social Security Administration (SSA) has scheduled an additional payment for Friday, November 29, 2024, but only for 7.5 million SSI recipients.
Why Is There an SSI Payment on November 29, 2024?
This payment occurs because December 1, 2024, falls on a Sunday, and banks and the SSA offices will be closed. To ensure timely delivery, the payment is sent two days early, making it available on Black Friday.
Is This an Extra Payment?
No, this is not a bonus or an additional payment. It is the December SSI payment sent in advance. The SSA already sent the November payment on November 1, 2024.
You’ll receive two payments in November but should budget carefully since there will be no SSI payment in December until December 31, which will include the 2025 Cost of Living Adjustment (COLA) increase.
What About COLA Increases?
The 2025 COLA increase will not apply to any payments in November. SSI recipients will see their COLA-adjusted payment on December 31, 2024. For Social Security beneficiaries, the COLA adjustments will take effect in January 2025, with payments scheduled throughout January.
SSI Payment Limits for November 2024
Here’s how much SSI recipients can receive in November:
- Individual recipients: Up to $943
- Eligible married couples: Up to $1,415
- Essential persons (those who assist an SSI recipient): Up to $472
Remember, staying eligible for SSI is crucial. If your income or resources change, report them immediately to avoid overpayment issues.
Tips for Managing Your SSI Payment
- Don’t overspend: The November 29 payment is not a bonus. Use it wisely for December expenses.
- Report changes: If your financial situation has changed, inform the SSA to avoid penalties.
- Plan ahead: With two payments in November, budget carefully for the gap in December.
1. Why is there a second SSI payment in November 2024?
The December SSI payment is sent early because December 1 falls on a Sunday when banks are closed.
2. Is the November 29 SSI payment an extra bonus?
No, it is the December payment sent early. There is no extra payment or bonus.
3. When will the 2025 COLA increase apply to SSI payments?
The COLA increase will apply to the December 31, 2024, payment and not any payments in November.
4. How much can SSI recipients get in November 2024?
Individual recipients can get up to $943, married couples up to $1,415, and essential persons up to $472.
5. What should I do if my income changes?
Report changes in your income or resources to the SSA immediately to avoid overpayment or penalties.
