New Social Security Payment Schedule Announced

If you’re receiving Supplemental Security Income(SSI), it’s good to know that the Social Security Administration (SSA) has a plan in place to keep everything running smoothly. The SSA doesn’t just think about today; they’re already organizing payments for 2025! This advanced planning helps make sure you get your money right when you need it.

Payment Schedule of SSI

SSI payments usually come on the first day of each month. But here’s the twist: if the first day of the month lands on a weekend or a federal holiday, your payment will be moved to the last business day before. You’re never left waiting for your funds.

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In 2025, you’ll get 12 SSI payments just like always. But, there are a few months where things will look a bit different. For January, February, March, June, September, and November, payments won’t be made on the first day of the month. Instead, they’ll be sent out on the last business day of the previous month. So, expect to get two payments in the month before these months—one at the beginning and one at the end.

Getting Extra Boost due to COLA Increase

Here’s some good news! Because of the way the payments are scheduled, you’ll actually be among the first to get the Cost of Living Adjustment (COLA) for 2025. Your January benefit, which includes this increase, will come on December 31, 2024. That means you get to start the year with a bit of extra cash right away.

Qualification you need for SSI

Wondering if you can get SSI? Here are the main things you need to know:

Age: You must be 65 or older.
Blindness: You need to be legally blind. This means your vision is 20/200 or worse, even with correction, or you have a very limited field of vision.
Disability: You should have a medical condition that stops you from working and is expected to last at least a year or lead to death.
Citizenship: You need to be a U.S. citizen or, in some cases, a qualified non-citizen.
Residence: You must live in the U.S. or certain territories like the Northern Mariana Islands.

Also, SSI is based on financial need. Your monthly income has to be below certain limits, which include money from jobs, other benefits, or help from family. However, the first $20 of income and an extra $65 from work are not counted.

Your resources (like cash, bank accounts, and property) must also stay below set limits: $2,000 for individuals and $3,000 for couples. But don’t worry—your home and one vehicle don’t count towards this limit.

How to Apply for SSI?

To start receiving SSI benefits, you’ll need to fill out an application. You can do this at a local Social Security office, online, or by phone. Make sure to check all the requirements with the SSA or a legal advisor since rules can change.

Conclusion

With the payment schedule set for 2025, you can plan your finances better. Knowing when payments will be advanced helps you avoid surprises and stay on top of your budget. Plus, getting the COLA boost early gives you a head start on the year.

So, even though the payment dates might shift around a bit, rest assured that the SSA has you covered. You’ll still get your 12 payments for the year, and the early COLA increase is a nice perk. This thoughtful planning shows just how much the SSA is committed to making sure you get the support you need, right on time.