Extra Funds Alert: Will Social Security Disability Payments Increase in November?
According to Marca, In November, Supplemental Security Income (SSI) recipients can expect an additional payment, thanks to this year’s unique calendar alignment. Typically, SSI payments are distributed on the first business day of each month, but this year presents a slight change.
Adjusted Payment Date for December
With December 1 falling on a Sunday, the Social Security Administration (SSA) has moved the December payment to Friday, November 29. As a result, SSI recipients will see deposits on both November 1 and November 29.
What is Supplemental Security Income (SSI)?
SSI, or Supplemental Security Income, provides financial assistance to individuals with limited income and resources, particularly older adults and people with disabilities. Unlike Social Security retirement benefits, SSI is funded by the U.S. Treasury and does not require recipients to have a work history. Instead, it focuses on individuals demonstrating financial need.
2024 Maximum Monthly Benefits
For 2024, the maximum monthly SSI benefits are set at:
- $943 for individuals
- $1,415 for qualifying couples
Cost-of-Living Adjustment (COLA) for 2025
In 2025, beneficiaries will see a 2.5% cost-of-living adjustment (COLA), which is a slight decrease from the previous year’s adjustment. This increase will raise the average monthly benefit to $1,957, helping recipients keep pace with inflation. The SSA has also released next year’s payment schedule, enabling recipients to plan for future adjustments similar to the upcoming changes in November.
Also read: Complete Guide to Social Security Changes: What Every Retiree Needs to Know
November Social Security Retirement Benefits Payment Schedule
For those receiving standard Social Security retirement benefits, payments in November will be issued on the following dates:
- November 13 for those with birth dates from the 1st to the 10th
- November 20 for individuals born from the 11th to the 20th
- November 27 for birthdays from the 21st to the end of the month
Early Payments in 2025
Due to adjustments for the holidays, SSI recipients will receive some of their payments early in 2025. The January payment will be issued on December 31, 2024, since New Year’s Day is a holiday.
For February and March, payments will be distributed at the end of the preceding months, resulting in no payment for March. This pattern will continue into May and August, with recipients receiving two payments in each of those months, leading to no SSI payments in June and September.
This scheduling ensures that recipients can better manage their finances during the holiday season and plan for upcoming payment cycles.
