The Social Security Administration (SSA) runs important programs like Supplemental Security Income (SSI), and Social Security Disability Insurance (SSDI). Helping disabled and low-income individuals with their finances is the main key feature of this program.
Living expenses continue to rise, therefore, such benefits are adjusted to sustain costs. This article provides much detail about the month of getting SSI and SSDI payments in 2024: July, August, and September.
Contents
Payments
Many U.S citizens who are disabled and have low-income depend on SSI and SSDI payments. These benefit given out every month to help with daily living expanses. Mostly, SSI payments are given on the first day of the month. On the other hand, SSDI payments are given on the second, third, and fourth Wednesdays of every month, based on the recipient’s birth date. When a payment date fall on a holiday, payments are made on the preceding business day.
Also Read: $1900 & $2400 Double Deposit for SSI, SSDI, VA in July 2024
The upcoming months are straightforward for the SSI payments:
- July 2024: 1st of July
- August 2024: 1st of August
- September 2024: 1st of September
SSDI Payment Dates
SSDI payments dates depend on the beneficiary’s birth date. Below is the schedule for the next three months:
| Birth Date | Payment Day | July 2024 | August 2024 | September 2024 |
|---|---|---|---|---|
| 1st to 10th | Second Wednesday | 10th July | 14th August | 11th September |
| 11th to 20th | Third Wednesday | 17th July | 21st August | 18th September |
| 21st to 31st | Fourth Wednesday | 24th July | 28th August | 25th September |
Payment Amounts
The SSA changes the amount of Social Security Benefit that people receive, in order to keep up with high cost of living. A Cost Of Living Adjustment (COLA) of 3.2% will be applied in 2024, This will help the people to maximize their benefits. For example, If a person retires at full retirement age in 2024 will get an average of $1,907 from Social Security. $4,194 is the maximum benefit a person can get. The exact amounts may be different depending on a number of things, such as:
- Highest 35 Years of Earnings: Benefits are calculated based on the highest 35 years of your earnings, which have adjusted for inflation.
- Early Retirement: If you decided to retire early, it may affect your total benefit amount.
- Spousal Benefits: If benefits are based on a spouse’s earnings, the work history of the spouse will affect the amount.
Eligibility
To be eligible for SSI and SSDI benefits, people must meet certain requirements:
- Age and Disability: Must be 65 or older, disabled, or blind.
- Income: Must have limited amount and resources.
- Residency: Must live in the United States.
People should go to SSA’s official website for more detailed information about eligibility and benefit amount.
Managing Payments
Regarding the tracking of the payment status, you can create a “My Social Security” account at the SSA website. This account is specifically enables the user to see their previous payments, next payments, time, dates, and amount of payments. If there are changes or improvements to the benefit programs, those can be availed of from the sources listed in the frequency section and from the SSA and the U. S. government’s sites.
Remaining alert to these changes is useful with regard to managing money. Continuing to check credible websites provides additional details of extended articles and is useful for determining current changes on Social Security payments.
FAQs
Q. When is the July 2024 SSI payment due?
A. Payment of SSI will me made on 1st of July.
Q. How much will the COLA be in 2024?
A. The COLA for 2024 is 3.2%.
Q. How do I keep track of my SSI and SSDI payment?
A. Create a “My Social Security” account on the SSA website.
Related posts:
