Social Security update: Worth $914 Direct Increased SSI Payment Will Arrive In Only Three Days
Supplemental Security Income (SSI) recipients will receive a payment of $914 in only three days which is a small increase from the SSI payment they received earlier this month.
This will fall on a national holiday, New Year’s Day, the recipients are receiving two payments this month due to the first day of January. As an outcome, the scheduled payment on Dec.30 will kickstart the schedule of 2023 SSI payments, with the upcoming payment serving as January’s payment, according to the Social Security Administration.
According to a published post by Washington Examiner, On Dec. 30 the $914 payment will be slightly higher than the $841 payment that recipients received last Dec. 1. The cost-of-living adjustment made by the SSA caused this increase, which rises the payments almost every year to keep up with the issue of inflation.
The Payments Of The Two Together Will Total $1,755
The SSA made the biggest adjustment in 1980 when the adjustment was 14.3%. According to the SSA, the years where there were no adjustments made were the years 2010, 2011, and 2016, For the cost-of-living adjustment of 2023, it will be 8.7%, making it the biggest adjustment the SSA has made since 1981 when the adjustment was 11.2%.
According to the SSA, those couples that are eligible for SSI and essential individuals, meaning someone who lives with another person that receives SSI and provides necessary care, on Dec they will also get a second December payment on Dec. 30. Eligible couples will receive $1,371, while the essential persons will get $458.
A total of 12 SSI payments are issued by the SSA every year to recipients to ensure that they get a one-time payment every month. This kind of payment is usually made on the first of the month, the payments are given on the last business day of the month on days when the first day of a month occurs on a weekend or a holiday.