In an upcoming exclusive interview, we explore the implications of a significant development for Supplemental Security Income (SSI) beneficiaries in November. The report, covered by KTLA 5 in Los Angeles, reveals that approximately 7 million SSI recipients will be receiving an additional payment this month.
Typically, SSI beneficiaries receive their payments from the Social Security Administration (SSA) on the first day of each month. However, when that day falls on a holiday or a weekend, payments are issued on the last business day prior.
In August, recipients were given their August payments alongside the September checks, but there were no payments made in September. This November mirrors the August payment schedule; beneficiaries will receive both their November and December checks, as December 1 falls on a Sunday. According to the SSA’s payment calendar, the payment for January 2025 will be distributed on December 31. Notably, the first days of January, February, and March will also land on weekends or holiday breaks. Consequently, for the January 31 payment, the check disbursed will be for February, while the February 28 payment will correspond to March. There will be no payments in March, with a return to normalcy in April.
Although beneficiaries will ultimately receive all their allotted annual payments, receiving two checks in one month may necessitate some financial planning for the following month when no checks are issued.
It’s important to note that if individuals are receiving regular Social Security benefits instead of SSI, their payments for November and December will remain unchanged. However, they may be impacted by the recently announced cost-of-living adjustment (COLA) from the SSA.
The latest COLA has been set at 2.5%, a reduction from last year’s 3.2% and the 8.7% seen in 2022, reflecting a trend of slowing inflation. This adjustment is calculated based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) from the Department of Labor.
