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The Social Security Administration (SSA) has announced an unusual “triple SSI payment” before the end of 2024, affecting retirees, survivors, disabled individuals, and Supplemental Security Income (SSI) recipients.
Why the Triple Payment?
The SSA’s normal payment schedule can be disrupted by weekends and federal holidays, leading to some shifts in payment dates. This year, due to the timing of the holidays, there will be three payments between November 1, 2024, and December 31, 2024.
What Is the Triple SSI Payment?
Typically, SSI checks are issued on the first of every month. However, if the first falls on a weekend or federal holiday, the SSA sends payments on the last business day of the previous month.
In 2024, due to holiday scheduling, a unique situation has led to three payments:
- November Payment: The regular payment for November was sent on November 1.
- December Payment: Since December 1 is a Sunday, the payment for December was issued early on November 29.
- January 2025 Payment: The January 2025 payment will be sent early on December 31 to avoid delays caused by the holiday.
This results in two payments in November and one at the end of December, all before the new year begins. However, it’s important to note that this “triple payment” doesn’t mean extra money—it’s just early distribution of the regular benefits.
What Does This Mean for January?
Since the January payment has been made early, there will be no SSI deposit in January 2025. Recipients should plan accordingly, as the next payment after December 31 will be issued on February 1, 2025.
The COLA Adjustment
The payment issued on December 31 will also reflect the 2025 cost-of-living adjustment (COLA), which will increase SSI benefits by 2.5%. The COLA raise means an additional $24 per month for individuals, bringing their payments from $943 to $967. For couples, benefits will rise from $1,415 to $1,450, and for essential persons, the amount will increase from $472 to $484.
This marks the first payment of 2025 and the beginning of the new COLA-adjusted benefits.
