These Social Security beneficiaries will receive $943 on Friday, Aug. 30
Some Social Security beneficiaries will receive the last payment of the month on Friday. Find out if you are one of them and when the checks will be sent.
The Social Security Administration sends monthly benefits to millions of people, including retired workers, survivors, and those receiving Social Security Disability Insurance and Supplemental Security Income payments.
Typically, one payment is sent per month to each beneficiary, but occasionally, certain people may receive two checks in the same month. This usually happens when the following month’s check is sent in advance.
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These Social Security beneficiaries will receive $943 on Friday, Aug. 30
The administration will send an advance payment to Supplemental Security Income recipients on Friday, Aug. 30, for a total of two checks in August. Here’s why this is happening.
The Social Security payment schedule states that Supplemental Security Income benefits must be sent on the first day of each month. However, if the first falls on a Saturday, Sunday, or holiday, payments are advanced to the previous business day. This is the case in September.
The Social Security Administration has already sent the August payment, but because Sept. 1 is a Sunday, the payment for that month will be sent forward on Friday, Aug. 30.
Since the September payment is being made early, the following payment for Supplemental Security Income recipients will not be sent out until Oct. 1.
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How much money is sent to Supplemental Security Income recipients?
This year, thanks to the cost-of-living adjustment, maximum Supplemental Security Income benefits rose to $943 for individuals and $1,415 for couples, but the specific amount depends on each beneficiary.
The average monthly SSI payment is about $698. People under 18 receive $814 on average, those between 18 and 64 receive $742 monthly, and adults 65 and older receive about $574.
SSI payments are sent by direct deposit to recipients who have provided their bank details to the agency or by mail in the form of a check, which takes longer to arrive.