SSI Recipients will get two payments in December - Newsweek
First some terminology clarification: “SSI” refers to “Supplemental Security Income” and not regular Social Security retirement, spousal, disability or dependent benefits. “SSI” is a means-tested benefit for those over age 65, or those with very low income under age 65 and disabled. Although SSI is administered by the Social Security Administration, it is NOT the regular Social Security benefit earned by working or by being a dependent of someone eligible for Social Security retirement benefits. Those benefits are paid on an entirely different schedule.
With that clarified, “SSI” benefits are always paid on the first of the month but, if the first is a holiday (like New Years Day), the SSI benefit is paid on the previous business day. A look at the December 2023 calendar reveals that December’s SSI payment will be received on December 1st (a Friday). However, because Monday, January 1st is a holiday, the January 2024 SSI payment will be paid on the previous business day, which will be Friday, December 29th – thus two SSI payments will be received in the month of December, likely a month of extra financial need.
An interesting thing is that the SSI payment received on December 29th will be more than the payment received at the first of the month, because next year’s 3.2% Cost of Living Adjustment (COLA) will be included. All of this is explained in more detail in this Newsweek article by Giulia Carbonaro. Click here to read more.