Recipients of Supplemental Security Income can expect their regular monthly $841 payment today, followed by a payment for the month of October earlier than usual when it arrives later this month.
SSI recipients will receive their October payments on Sept. 30, meaning eligible people will receive two checks within the same month, for a total of $1,682 in payments.
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Eligible couples will receive two payments of $1,261 this month for a total of $2,522, and essential persons who live with people receiving Supplemental Security Income and provide them with necessary care will receive two payments of $421 this month, to be paid out today and Sept. 30.
The Social Security Administration issues SSI payments the Friday prior to each of month where the first day of the month falls on a weekend or federal holiday to ensure recipients receive checks by the first of the month, according to the agency. Because Oct. 1 falls on a Saturday this year, the Supplemental Security Income payment for that month is delivered on Friday, Sept. 30.
There are three months this year in which recipients will receive two payments within the same calendar month. The other months, in addition to September, are April and December.
The Social Security Agency has been issuing SSI to eligible individuals and couples since January 1974, with the rate of payment increasing for cost-of-living adjustments since 1975, according to the agency.
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Social Security payments are expected to increase next year to stay on pace with inflation. Analysts predict the cost-of-living adjustment for Social Security in 2023 may be 10.5% or more, which could move recipients of Social Security into higher tax brackets.
Estimates say Social Security insolvency will occur in 2034 at the earliest unless acted upon by Congress.
