BIG NEWS: Social Security confirms no more SSI payments until October
The Social Security Administration (SSA) has confirmed that Supplemental Security Income (SSI) recipients will not receive any further payments until October. This adjustment in the payment schedule has raised concerns among those who rely on these funds to meet their basic needs. If you are affected by this delay, it’s crucial to understand the reasons behind the pause and how to manage your finances until payments resume.
What is Supplemental Security Income (SSI)?
The SSI program provides financial assistance to individuals with limited income, disabilities, or those over the age of 65 who lack sufficient resources to cover their essential expenses. Managed by the SSA, this program offers monthly payments that help millions of Americans make ends meet.
How SSI Provides Critical Financial Aid
This financial aid is essential for individuals facing economic hardship, as it helps cover basic needs such as food, housing, and medical services. Unlike other Social Security programs, SSI is not funded through Social Security contributions but rather through the U.S. Treasury. This distinction highlights that the program is specifically designed for individuals who are unable to work or have very limited income.
Key Dates in the SSI Payment Schedule
Here are the important dates for SSI payments for the remainder of the year:
- September Advance Payment: August 29
- October Payment: October 1
- November Advance Payment: October 31
- December Payment: December 1
As you can see, there will be no direct payments in September or November. However, beneficiaries will receive their funds in advance, which is essential to remember in order to avoid financial difficulties during these months.
Why Your SSI Payment Dates Are Changing in 2024
Each year, the SSA establishes a payment schedule for all the programs it manages. While most SSI payments are made on the first of every month, changes occur if the first day of the month falls on a weekend or holiday. In such cases, the payment is moved to the last business day before the scheduled date.
For the remainder of 2024, SSI beneficiaries should note that there will be no payments in September or November. This does not mean that benefits for these months are lost; rather, the payments have been adjusted. For example, beneficiaries received their September payment on August 29, and the November payment will be made on October 31.
