According to Marca, In November, recipients of Supplemental Security Income (SSI) may notice an additional payment on their schedule due to the alignment of the calendar this year. SSI payments are typically issued on the first business day of each month, but with December 1 falling on a Sunday, the Social Security Administration (SSA) has adjusted the payment schedule. As a result, the December payment has been moved up to Friday, November 29, allowing recipients to receive deposits on both November 1 and November 29.
What is Supplemental Security Income (SSI)?
Supplemental Security Income (SSI) provides financial support to individuals with limited income and resources, particularly older adults and those with disabilities. Unlike Social Security retirement benefits, SSI is funded by the U.S. Treasury and does not require recipients to have a work history. Instead, it focuses on those who demonstrate financial need.
2024 SSI Benefits Overview
For the year 2024, the maximum monthly SSI benefits are set at $943 for individuals and $1,415 for qualifying couples. These figures reflect the ongoing efforts to assist those who rely on SSI to meet their basic needs.
Cost-of-Living Adjustment (COLA) for 2025
Looking ahead to 2025, beneficiaries will receive a 2.5 percent cost-of-living adjustment (COLA) increase. Although this is a slight decrease from the previous year’s adjustment, it will raise the average monthly benefit to $1,957, helping recipients keep pace with inflation. The SSA has already released next year’s payment schedule, enabling recipients to plan for these future adjustments, including the one occurring in November.
Also read: The 5 big changes that will affect Social Security benefits in 2025
November Social Security Retirement Benefits Payment Schedule
For those receiving standard Social Security retirement benefits, the payment schedule for November is as follows:
- November 13: Payments for those born from the 1st to the 10th
- November 20: Payments for those born from the 11th to the 20th
- November 27: Payments for those born from the 21st to the end of the month
Adjustments to 2025 Payment Schedule
Due to holiday scheduling, SSI recipients will also experience early payments in early 2025. The January payment will be issued on December 31, 2024, because New Year’s Day is a holiday. In February and March, payments will be made at the end of the preceding months, resulting in no payment for March. A similar pattern will occur in May and August, where recipients will receive two payments in each of those months, leading to no SSI payments in June and September.
These adjustments in the payment schedule ensure that recipients have a clear understanding of when to expect their benefits, allowing for better financial planning.
