The Social Security benefit is one of the most important government supports of the Social Security Administration (SSA). This is known as the quintessential financial support for retirees (62+) and is usually paid on the third day of the month.
However, there are also other benefits such as Supplemental Security Income (SSI) and Social Security Disability Insurance (SSDI).
The SSI benefit is paid on the first day of the month and your individual beneficiaries may receive up to $914.00 USD on May 1st. All this, despite the fact that no payments were received from said program in April.
How will payments be made?
SSI eligible couples will receive up to $1,371.00 USD. Essential people, who are those who live with someone who receives SSI payments, will get an amount of $458.00 USD on May 1. In addition, they also provide necessary care to these beneficiaries.
The reason why the beneficiaries did not receive their money in April was because the first day of this month fell on Saturday. However, received double pay in Marchon day 1 and 31.
In the remainder of the year, additional double payments are scheduled for June, September and December. This means that no payments will be made in July, October and January of the next year.
Even though recipients sometimes receive two checks in the same calendar month, they still receive a total of 12 checks per year. The SSA clarified in this regard that beneficiaries do not need to inform the agency of the second payment they receive.
For its part, the adjustment known as COLA is so that the payments sent by the SSA are in accordance with annual inflation. This year the COLA has been one of the highest in recent times (8.7%) and its influence includes all Social Security payments.
