When is the next SSI direct payment according to the payment schedule?
The Supplemental Security Income program aims to help disadvantaged beneficiaries who have little to no income. Here’s when they will get the next payment.
The Supplemental Security Income (SSI) program is a federal income supplement scheme funded by general tax revenues and not Social Security taxes. However, the program is administered by the Social Security Administration.
The benefit intends to help aged, blind, and disabled people who have little or no income. SSI provides cash to meet basic needs for food, clothing, and shelter.
When will I get my SSI payment each month?
Supplemental Security Income benefits are distributed monthly, usually on the first day of the month. However, if the first falls on a weekend or a holiday, the payment will be made on the preceding banking day.
As the March benefit has already been given out, recipients can expect the next payment on Monday, April 1.
Recipients who have direct deposit set up for their SSI benefits generally receive their payments more quickly than those who receive paper checks through the mail.
READ ALSO: Who will receive $1,900 from Social Security on March 13?
How much will my SSI payment be in April?
The amount of SSI benefits an individual receives can vary depending on factors such as income, living situation, and marital status. In some states, recipients may also receive additional income or support through state-run supplementation programs.
The monthly maximum SSI amounts for 2024 are $943 for an eligible individual, $1,415 for an eligible individual with an eligible spouse, and $472 for an essential person.
An “essential person” refers to an individual who is considered crucial to the care and well-being of an SSI recipient. This could be a spouse, a dependent child, or another person who lives in the same household.
READ ALSO: The student loan interest deduction for your 2024 taxes
Who are eligible to receive SSI?
To qualify for Supplemental Security Income, you must be aged 65 or older, blind, or disabled, and you must also have limited income and resources.
Income includes not only wages but also other sources such as Social Security benefits, pensions, and unemployment benefits. Resources include things like cash, bank accounts, stocks, and real estate (excluding one’s primary home and certain other assets).
SSI recipients must keep track of their payment schedule and ensure that their contact information is up-to-date with the Social Security Administration to avoid any delays or issues with receiving their benefits.