This change could increase monthly SSI payments by about $131 per month for over 90,000 people confirms Social Security
According to Vibes.okdiario, Seniors over the age of 65, as well as individuals with disabilities or who are blind, will receive a new Supplemental Security Income (SSI) payment on October 1. This payment will be distributed to approximately 7.5 million recipients across the United States, with some individuals seeing an increase of $131 in their payments.
Who Will Receive Payments on October 1?
If you qualify for SSI and are under 18, October 1 is also your payment date. All recipients—both adults and children—share the same payday and must meet the following criteria:
- Qualify due to disability, blindness, or being at least 65 years old
- Have low income and limited resources
Specific Payments for Seniors
The Federal program will send $943 to Supplemental Security Income recipients who meet the following conditions:
- Do not have any payment reductions
- Qualify for the full amount in 2024
- Remain eligible and adhere to Social Security Administration (SSA) rules
However, it’s important to note that additional earnings or assets may reduce the SSI payment amount. On average, recipients receive about $698, while those aged 65 or older average $575.
Also read: Social Security update: First round of October payments worth $4,873 go out in 10 days
Reasons for Slight Increases in October Payments
In October, SSI payments may be slightly higher due to recent changes in Supplemental Security Income regulations. For instance, the In-kind Support and Maintenance provision has been removed, which previously reduced payments for recipients who received food from others regularly. Additionally, the definition of public assistance households has been modified, expanding eligibility for SSI benefits.
These changes could allow more low-income Americans to qualify for benefits. Furthermore, there will be an expansion of the SSI rental subsidy policy, which will benefit more recipients. However, the 2025 Cost of Living Adjustment (COLA) will not take effect until December 31, 2024.
Future COLA Projections
According to projections from the Senior Citizens League, the upcoming COLA is estimated to be 2.57%. Therefore, seniors qualifying for $943 in 2024 could see their payments rise to approximately $966 in 2025. Married couples can expect to receive up to $1,415 on October 1, 2024, potentially increasing to $1,450 after the 2025 COLA adjustment.