Supplemental Security Income recipients will receive a payment of $914 on Friday, kicking off the Social Security Administration’s schedule for 2023 payments.
SSI recipients are receiving two payments this month due to the first day of January 2023 falling on a national holiday, New Year’s Day. The second payment will be slightly higher than what recipients received on Dec. 1, when recipients received a payment of $841, according to the SSA.
Eligible couples for SSI and essential persons, meaning someone who lives with a person receiving SSI and provides necessary care, will also get a second December payment on Dec. 30. Couples will receive $1,371, while essential persons will get $458, according to the SSA.
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The reason the payment scheduled for Friday is slightly higher than the SSI payment from earlier this month is due to a cost-of-living adjustment made by the SSA. This adjustment will make the 2023 payments 8.7% larger than the payments given in 2022, making the latest cost-of-living adjustment the largest one the SSA has made since 1981, when the adjustment was 11.2%.
The SSA makes these adjustments almost every year as a means to keep up with rising inflation, with the biggest adjustment made in 1980, at 14.3%. The only years when no adjustments were made were 2010, 2011, and 2016, according to the SSA.
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A total of 12 SSI payments are issued to recipients by the SSA every year to ensure they get one payment every month. When the first day of a month occurs on a weekend or a holiday, as is the case in January, the payments are given on the last business day of the previous month.
In 2022, double SSI payments were scheduled for April, September, and December. Next year, SSI recipients will receive double payments in March, June, September, and December, according to the SSA’s schedule.
