Big news for SSI recipients: there will be no payments next month. This change comes as the Social Security Administration (SSA) reschedules the June 3rd payment to May 31st. This means millions who rely on Supplemental Security Income (SSI) won’t receive their usual benefits of up to $1,415 next month.
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Why the Change?
The SSA’s decision to move the payment date is to avoid the weekend. Normally, payments are made on the first of the month unless it falls on a weekend or a federal holiday, in which case the payment is made on the last business day of the previous month. For June, the first falls on a Saturday, prompting the early payment.
Knowing SSI
SSI benefits nearly 5 million low-income seniors, disabled individuals, and children who meet specific requirements. This program is vital for many, providing essential financial support to cover daily expenses. Remember, these payments will resume on July 1st.
SSI Payments
For many low-income seniors aged 65 and older, SSI payments are a lifeline. These monthly benefits help cover essential costs like housing, healthcare, and daily necessities. Without them, many would struggle to make ends meet and potentially fall into poverty.
Adjustments
This year, SSI payments include a 3.2% cost of living adjustment (COLA) to help recipients manage inflation. The SSA adjusts these payments annually to ensure recipients can cope with rising costs. It’s essential for beneficiaries to understand how their income affects their SSI amount. The SSA excludes certain types of income, which can influence the final payment amount.
Payment Schedule
Here’s a look at the upcoming SSI payment schedule:
- July: Monday, 1st of the month
- August: Thursday, 1st of the month
- September: Friday, 30th of August (for September)
- October: Tuesday, 1st of the month
- November: Friday, 1st of the month
- December: Friday, 29th of November (for December)
Payment Amounts
The amount received varies based on filing status and income:
- Individuals: Up to $943
- Couples: Up to $943
- Essential Persons (EP): Additional $472
FAQs
Why won’t there be an SSI payment next month?
The June 3rd payment has been rescheduled to May 31st.
When will SSI payments resume?
Payments will resume on July 1st.
How much will I receive in SSI payments?
Individuals can receive up to $943, couples the same, and essential persons an additional $472.
Why did the SSA move the payment date?
To avoid the weekend, ensuring recipients get their payments on a business day.
How often are SSI payments adjusted?
Payments are adjusted annually to account for inflation through the COLA.