Beneficiaries of Supplemental Security Income are set to receive their regular $841 monthly payments in just one day.
Couples who are eligible for SSI will receive their monthly payments of $1,261 on Nov. 1, with essential persons, or those who live with people receiving SSI and give them necessary care, set to receive their payments of $421 at the beginning of next month as well.
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The Social Security Administration sends out SSI payments on the first day of each month, but when that day falls on a holiday or weekend, payments are issued then on the last weekday before the first of the next month, according to the agency. Scheduling quirks occur for the January, May, and October payments this year, and beneficiaries will receive two of their 12 payments for the year in the same calendar month.
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SSI payments were first issued to eligible individuals and couples by the Social Security Administration in January 1974. To combat year-to-year inflation, the size of payment has increased for cost of living adjustments since 1975, per the agency.
Estimates by some analysts say that Social Security insolvency will occur in 2034 at the earliest unless acted on by Congress.
