Recipients of the Supplemental Security Income are slated to receive their monthly $841 payment for November in just four days.
Due to a scheduling quirk, recipients did not receive a check this month and instead got two payments in September because October first was on a weekend. The scheduling discrepancy happens multiple times a year, with it occurring in January, May, and October of this year.
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The Social Security Administration typically issues SSI payments on the first of each month, but when that day falls on a holiday or weekend, payments are issued on the last weekday before the first of the next month, according to the SSA.
Social Security payments are expected to increase next year to stay on pace with inflation, with some analysts predicting the cost-of-living adjustment for Social Security in 2023 may be 10.5% or more, which would move recipients of regular Social Security payments into higher tax brackets. However, Social Security Income payments will increase by 8.7% and rise to $914 a month for individuals and $1,371 for eligible couples.
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Some analysts estimate Social Security insolvency will occur as early as 2034 unless acted upon by Congress.
