Social Security update: First of double SSI checks next month worth $1,755 to be sent out in just weeks
Social Security update: First of double SSI checks next month worth $1,755 to be sent out in just weeks
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Social Security update: First of double SSI checks next month worth $1,755 to be sent out in just weeks
Asher Notheis November 03, 11:41 AM November 03, 11:41 AMSupplemental Security Income beneficiaries are set to receive two payments totaling $1,755 next month.
The double payments issued in December will be given due to the New Year's holiday on Jan. 1, 2023. A check of $841 is due on Dec. 1, with another payment worth $914 set to be sent on Dec. 30, according to a schedule from the Social Security Administration.
Because Jan. 1, 2023, falls on a Sunday, the weekend, the payment has been moved to Dec. 30, the Friday before, as is tradition for SSI benefits. When the first of the month falls on a holiday or a weekend, payments are typically rolled out on the last weekday before the first of the next month.
STIMULUS UPDATE: $3,200 ONE-TIME PAYMENTS MUST BE CLAIMED BEFORE DEADLINE IN JUST 12 DAYS
Double payments in one month have already occurred earlier this year in April and September, as the 1st of May and October fell on a weekend, according to the SSA's schedule.
Social Security payments are set to increase by 8.7% next year, and SSI will get a considerable boost of $73 per month in 2023 from the payments in 2022, resulting in the $841 amount increasing to $914 next year. The increase marks the highest cost-of-living adjustment in 40 years, with the last increase being 11.2% in 1981.
Couples on the program who receive about $1,261 a month will get a boost up to $1,371, according to CNBC.
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The program began sending out payments in 1974 and is intended to provide fiscal relief to individuals with disabilities. Over 7 million people receive payments from the program, while around 65 million receive Social Security.
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