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$914 in Supplemental Security Income (SSI) payments are expected to be arriving on February 1. This is after January received no monthly payments due to the first day of the month being a holiday.
Social Security Payments
On February 1, the Supplemental Security Income (SSI) payments worth $914 will be distributed by the Social Security Administration (SSA) to its beneficiaries. However, the beneficiaries will not be receiving any payment this January due to the first day of the month being a holiday. The SSA has rules about SSI payments being issued on the first day of every month except if it falls on a weekend or a holiday. Instead, the payments will be issued on the last weekday of the previous month.
According to Notheis, this was the reason why last December 2022, the beneficiaries have received two payments. The first payment was issued on December 1 and the other was on December 30. Having said that, the beneficiaries will receive a total of 12 payments every year. In 2023, the SSA will also issue two payments for the months of March, June, September, and December. This is because the months that follow them begin with either a weekend or a holiday.
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What Are SSI Payments?
According to Notheis, the SSI payments intend to assist disabled seniors who have little to no income. The payments will offer these beneficiaries the ability to afford necessities like food and shelter. Those who are eligible for these payments are couples and essential persons who live with and provide necessary care to a beneficiary. Couples will be receiving $1,371, while essential persons will receive $458. In 2023, due to the cost-of-living adjustment made by the SSA, SSI payments will increase in comparison to what was issued in 2022. The SSI payments this year will increase by 8.7% in comparison to the payments worth $841 received in 2022.
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