Supplemental Security Income recipients will get their next new payment on Tuesday, October 1. SSI participants are always the first to get payments from the federal government.
Furthermore, the Social Security Administration will not take long to provide retirement benefit installments of up to $4,873. Retirees who qualify will get their direct deposit on October 3.
SSI and Social Security payment eligibility for October 1–3
To get SSI, you must continue to be eligible. For example, if you have additional income, it may influence your eligibility and payment amount. Marriage is another factor that may boost or decrease your SSI payments, so report any changes as soon as possible.
SSI only applies to individuals who:
Eligibility requirements include being 65 years or older, being blind, and having a qualifying impairment. Both children and adults may be eligible.
While Supplemental Security Income payments are based on these conditions, Social Security retirement benefits are entirely different. To receive retirement benefits, you must:
To qualify, individuals must be at least 62 years old, have worked for at least ten years, and have earned at least 40 Social Security or work credits (up to four each year).
Filing for retirement benefits is mandatory, and approval is also required.
To get retirement payments on October 3, you must have received Social Security before May 1997 or SSI at the same time. This means that some SSI beneficiaries will receive two payments within the same week in early October.
SSI and Social Security retirement benefit amounts
The greatest amount an essential person on Supplemental Security Income can receive is $472. Those who are married and both qualified may get up to $1,415.
In the meantime, people can earn $943. These maximum quantities will stay unchanged until December 31, 2024. That is when the COLA increase will take effect for these people.
Retirees can get a monthly payment of up to $4,873 if they meet all of the severe standards for high earners, such as filing at 70 or earning the contribution and benefit base for 35 years of service. According to the Social Security Administration, this will cost approximately $1,919 on average.
