The Social Security Administration (SSA) has provided key updates about Supplemental Security Income (SSI) payments for December 2024.
These updates include payment schedules and how the cost-of-living adjustment (COLA) will impact SSI benefits for the coming year.
Key Highlights of the December 2024 SSI Payment Schedule
Why is the SSI Payment Early in December?
The SSA will issue the December SSI payment on November 29, 2024, instead of December 1. This adjustment ensures beneficiaries receive their funds on time, as payments aren’t sent on weekends or holidays.
Additional Payment on December 31, 2024
Another SSI payment is scheduled for December 31, 2024. This check will reflect the 2025 COLA increase, ensuring beneficiaries start the new year with updated benefits.
What is COLA, and How Does it Affect SSI?
COLA Increase for 2025
The cost-of-living adjustment (COLA) raises SSI payments to keep up with inflation. For 2025, the COLA increase is 2.5%, slightly below the historical 10-year average of 2.6%. This adjustment ensures beneficiaries maintain their purchasing power.
Impact on SSI Benefits
Here’s how the COLA increase changes SSI payments:
- Individuals: Maximum benefit rises to $967.
- Eligible couples: Maximum benefit rises to $1,450.
- Essential persons: Maximum benefit rises to $484.
For example, if you currently receive $500, your new payment will be $512.50 after COLA. Over a year, this adds up to an extra $150.
Who Qualifies for SSI?
Eligibility Criteria
SSI is for low-income individuals who are:
- Blind, disabled, or 65 years or older.
- Have limited resources or income.
Recipients can also qualify for SNAP benefits to help with food costs.
The SSA’s updated payment schedule and COLA increase for 2025 aim to support SSI recipients better.
By providing an additional December payment with updated benefits, the SSA ensures that beneficiaries’ financial needs align with inflation.
Understanding these updates helps recipients plan their finances more effectively.
1. Why is there no December 1 payment for SSI?
Payments aren’t issued on weekends or holidays, so the December payment is sent early on November 29, 2024.
2. Why is there a second payment on December 31?
The December 31 payment reflects the new 2025 COLA increase. It’s considered an early January payment.
3. How much is the COLA increase for 2025?
The COLA increase is 2.5%, slightly below the 10-year average of 2.6%.
4. Can SSI recipients also receive SNAP benefits?
Yes, eligible SSI recipients can apply for SNAP benefits to help with food expenses.
5. What are the maximum SSI payments for 2025?
Individuals: $967
Eligible couples: $1,450
Essential persons: $484
