The Social Security Administration has revealed an important update regarding the payment timetable for Supplemental Security Income (SSI) for January 2025. Recipients of SSI will receive their benefits for January ahead of schedule on December 31, 2024, given that January 1, 2025, occurs on a weekend. The payment on December 31 will incorporate a 2.5% cost of living adjustment (COLA) that was announced last October.
This adjustment is designed to mitigate the impact of inflation, ensuring the SSI benefits maintain their purchasing power against increasing prices. On average, those receiving SSI will obtain $715 each month, but the exact figure may differ according to individual situations.
For individuals, the payment will be about $967, while those who qualify as an essential person (EP) will get an extra $484, resulting in totals of $1,451 for individuals and $1,934 for couples. To be eligible for SSI, applicants must adhere to specific income and resource limitations established by the SSA. The eligibility criteria specify that individuals must be blind, disabled, or at least 65 years old, possess limited financial resources, be U.S. citizens or nationals, and live in any of the 50 states.
SI December benefits adjustment
The SSA has an online resource available to assist with determining eligibility. If an application is approved, a “protective filing date” will be assigned, potentially affecting the initiation of monthly payments.
In certain situations, beneficiaries may receive retroactive payments based on the filing date. The SSI income criteria take into account any cash or in-kind contributions that could be utilized for housing or food expenses. Monthly SSI payments are calculated based on wages, with several types of earned income excluded from the SSA’s evaluations.
For individuals whose income derives purely from wages, it must not exceed $1,971, while if it comes from alternative sources, the limit is $963. For couples, the income threshold stands at $2,915 if it’s solely from wages. Certain types of payments, including the initial $20 of monthly income, SNAP benefits, and tax refunds, do not count as income for SSI eligibility evaluation.
Beneficiaries can visit the official website of the SSA for further details and to check their eligibility for SSI benefits.
