Get Prepared After Christmas Vacation: Requirements For the Upcoming SSI Payment on December 31, 2024
The next SSI payment will only be for those who have already filed and got Social Security’s approval. To meet all the requirements, you must be short of money. That is, you must have both a low income and little to no resources.
What is more, the Social Security Administration can only issue the December 31 payment to those SSI recipients who are at least 65 years old, or have a disability, or are blind. Bear in mind that some children with a qualifying disability may also qualify.
SSI new maximum amounts on December 31, 2024
This will be the only payment in 2024 that will have higher amounts than the other paydays. This is because the SSI payday on December 31 will be for January and it will include the 2025 COLA increase.
The Social Security Administration has confirmed that the SSI payment on December 31, 2024, will include a 2.5% boost. This COLA increase will be much lower than in the 2024 COLA.
However, the new maximum amounts will be slightly higher which will be a relief for those with the lowest incomes. The new maximum amount for an individual on Supplemental Security Income will be $967, up from $943.
SSI Recipients: $967 Payment With COLA Increase Won’t Be Sent on January 1—New Date Announced
Eligible married couples will get a payment of up to $1,450, up from $1,415. Even essential persons benefit from this boost and their payments will be $484, up from $472.
Will all SSI recipients get a payment on December 31, 2024?
As a matter of fact, this will be the only payday for all SSI recipients in the United States. Unlike Social Security payments which are issued on 4 different paydays depending on when you began collecting payments or on your birth date.
Of course, you will not qualify for the Supplemental Security Income payment if you do not remain eligible because you have:
- received a lot of money from income
- have gained resources that exceed the SSI limits
- overcome your disability