According to The Sun, Millions of Americans will soon see Supplemental Security Income (SSI) payments deposited into their accounts, with amounts reaching up to $943, just ahead of the 2025 Cost-of-Living Adjustment (COLA) increase.
SSI, administered by the Social Security Administration (SSA), provides monthly benefits to older adults and individuals with disabilities who have limited financial means. Typically, payments are made on the first of the month. However, when the first falls on a weekend, beneficiaries receive their payment on the preceding Friday.
For those who qualify for the maximum benefit, the payment is $943. However, actual amounts vary based on factors like income, living arrangements, and assets, which means that each recipient’s check may differ.
Upcoming COLA Increase
The Senior Citizens League is predicting a 2.5% Social Security COLA for 2025, slightly lower than the 2.9% anticipated earlier. The SSA will officially announce the COLA on October 10. A 2.5% increase would mean an additional $48 for the average retiree, who currently receives $1,920 per month. While this is lower than the 3.2% increase in 2024, it aligns with the historical average of 2.6%. The COLA, determined by the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), will apply to benefits starting in January 2025.
SSI Eligibility Criteria
SSI benefits approximately eight million Americans, including elderly individuals, disabled adults, and disabled children. To qualify, recipients must meet strict financial requirements. Individuals cannot have more than $2,000 in assets, while couples are allowed up to $3,000.
Also read: “Married or Divorced in 2025? Understanding Your Social Security Rights”
Other eligibility requirements include:
- Being at least 65 years old, blind, or disabled
- Having limited income and resources
- Being a U.S. citizen or eligible non-citizen
- Residing in the U.S., District of Columbia, or Northern Mariana Islands
If a payment is delayed, the SSA advises beneficiaries to contact their bank, as processing delays may be the cause.
Remaining 2024 Payment Schedule
In addition to the SSI payment on October 1, the following are Social Security payment dates for October:
- October 3, 2024: Recipients of both Social Security and SSI, or those who began receiving benefits before May 1997
- October 9, 2024: SSDI recipients
- October 16, 2024: SSDI recipients
- October 23, 2024: SSDI recipients
- November 1, 2024: SSI recipients
Double Payments in 2024
Due to irregularities in the SSI payment schedule, recipients may notice double payments. For example, in November, beneficiaries will receive two payments because December 1 falls on a Sunday. Additionally, the first payment for January 2025 will be issued on December 31, 2024, as January 1 is a holiday. Similar adjustments are expected for February and March 2025 due to holidays.
To report missing or stolen payments, recipients can contact the SSA at 1-800-772-1213 or visit a local office. More details about SSI eligibility and income thresholds can be found on the SSA website.
As 2025 approaches, beneficiaries can expect an increase in their SSI payments to reflect annual COLA adjustments aimed at keeping up with inflation.
