Over 7.5 million Americans benefit from the Supplemental Security Income program. If you are eligible, the SSI program can pay you up to $943; however, this maximum amount will no longer be available. The same applies to eligible married couples who got the maximum payout of $1,415 in 2024.
In fact, the payment on December 1, 2024, was the last day to obtain the maximum sums. After that, the 2025 COLA rise will take effect, and all recipients will get a 2.5% boost from the federal government. Social Security has validated the increase, as long as you are still eligible for payments.
When has Social Security issued the SSI payment for January?
The Social Security Administration has set the next January 2025 SSI payment for December 31, 2024. As a result, all beneficiaries will receive their check or direct transfer one day in advance.
Receiving money from the federal government is possible if your payment is due on a federal holiday. In such circumstances, the Agency moves the payout to the preceding working day.
So, even if it is still 2024, you can receive your January SSI payment in 2024 rather than 2025. Thus, it is not an additional payment or bonus; it is just money given ahead of time.
Goodbye to the old SSI maximum amounts
It is time to welcome the next SSI maximum amounts for those who qualify:
- Maximum amount for an individual: up to $967 ($943 in 2024)
- Maximum amount for an eligible married couple: up to $1,450 (up from 1,415)
- Maximum amount for an essential person: up to $484 (up from $472)
- An average payment will become about $714 (up from $697 as of October 2024)
SSI payments are only for those who have no or little money. Furthermore, they must meet one of the Social Security eligibility requirements. For example, you must be disabled, at least 65 years old, or blind. For your knowledge, the COLA increases once a year and only if inflation rises. Payments may occasionally remain unchanged or even be reduced.