December is drawing near, and the holidays won’t wait for anyone. Nevertheless, Social Security also takes its beneficiaries’ welfare into account. The Social Security Administration (SSA) will give you a new present. The easiest way to find out is to ensure you meet all the standards and completely understand how their timetable works.
The SSA will do everything to ensure everyone receives their benefits on time. This means they must distribute them in a way that prevents errors or hold-ups. Their annual payment schedule reflects this idea, showing the ban date for each program and month.
To properly know what the SSA has planned for this New Year’s Eve, it is important to understand their scheduling concepts.
Your birthdate, the programs you are registered in, and when you started receiving benefits determine how much the SSA pays you. Each of these elements supports the Social Security Administration’s population distribution.
First, SSA separates beneficiaries into two categories according to the date benefits began, with May 1997 as the limit date. No matter the program they are enrolled in, the group will receive their funds before the first of the month. Another condition then impacts the group. In this case, by their program.
SSI payment schedule
SSA will make the payment in a different week of the month by grouping beneficiaries’ birth dates by intervals. The people whose birthdate is 1-10 will get it on the second Wednesday. Those whose birthdays are between 11 – and 20 will get on the third Wednesday and lastly, the date of birth between 21 and 31 will get on the fourth Wednesday.
This $947 Social Security payout is only available to SSI beneficiaries. You might wonder why they will receive their portion if it is supposed to arrive on the first of the month. It’s simple. SSA reschedules payments that fall on a weekend or holiday. In this case, the December 31st payment of $947 equals the January 2021 payment.
Beneficiary of $947 payment from Social Security
SSA clarifies the requirements you must meet to be eligible for SSI. To make it simpler for people to apply and be eligible, they have been gradually changing their standards. The following are the general requirements:
These comprise disabled adults, children, and individuals sixty-five years old and over. You must have less than $2,000 if applying alone, or $3,000 if applying with a partner. If you’re applying as a couple, you must make no more than $2,915 or less than $1,971 as an individual.
It’s crucial to keep in mind that you might receive additional benefits—like further government assistance or private assistance.
Your living expenses might affect your overall income. The average amount of a single person’s SSI Social Security Check is $943 if you receive or are aware of SSI payments. It is only because the COLA (cost-of-living adjustment) will also affect SSI payouts.
The SSA will provide claimants with larger benefits. Remember that in 2025, the COLA will be 2.5%. The revised amount is $947 as a result.
