Supplemental Security Income (SSI) and Social Security benefits help millions of Americans. But understanding how much money people receive can sometimes be confusing.
This guide will break down the average payments from October 2024 and explain how age, type of benefits, and circumstances affect the amounts.
How Much Do People Receive from SSI and Social Security?
SSI Monthly Payments in 2024
- Average SSI Payment: $697
- By Age Group:
- Under 18: $803
- 18-64: $745
- 65 and older: $576
The variation is largely because seniors often receive other benefits, like Social Security retirement income, which can lower SSI payments.
Comparing SSI with SSDI and Social Security Retirement Benefits
- SSI: $697
- SSDI (Disability Insurance): $1,542
- Social Security Retirement: $1,924
SSI payments are specifically for low-income individuals who are disabled or aged 65 and older. SSDI and Social Security retirement benefits tend to be higher, reflecting lifetime earnings or work history.
Additional Social Security Benefits in 2024
The government also offers other Social Security-related benefits. These averages can vary based on specific circumstances:
- Death Benefits: $1,509.29
- Survivor Benefits for Children: $1,104
- Disabled Widows/Widowers: $927.53
- Parents of Deceased Workers: $1,627.16
- Yearly Benefits for Surviving Parents: $1,287.88
Factors That Impact Your SSI Payments
- Age: Younger individuals tend to qualify for higher SSI payments.
- Additional Benefits: Receiving other types of Social Security (like retirement or SSDI) may reduce SSI amounts.
- Living Situation: Where you live and your financial resources also affect your eligibility and payments.
What This Means for You
Understanding these figures can help you plan your finances or assist loved ones who rely on SSI or Social Security. While SSI is lower compared to other programs, it still provides essential support for eligible individuals.
SSI and Social Security payments are vital for millions, providing financial support based on age, disability, and income level.
While SSI payments are modest, they ensure low-income individuals and families can meet essential needs.
For those seeking more substantial aid, SSDI or retirement benefits often offer higher averages.
What is the average SSI payment in 2024?
The average monthly SSI payment is $697.
Why do seniors receive lower SSI payments?
Seniors often receive Social Security retirement benefits, which reduce their SSI payments.
How does SSI compare to SSDI and retirement benefits?
SSI payments are lower: $697 compared to $1,542 for SSDI and $1,924 for retirement benefits.
Can children receive SSI?
Yes, children under 18 receive higher SSI payments, averaging $803 per month.
What other Social Security benefits exist?
Benefits include death and survivor benefits, which vary depending on circumstances. For example, children of deceased workers may get $1,104 monthly.
