In November 2024, millions of Americans will receive two Supplemental Security Income (SSI) payments. This rare occurrence is due to how the payment schedule aligns with holidays. Normally, SSI payments are issued on the first of each month, but if that date falls on a weekend or holiday, the payment is sent earlier. In November, beneficiaries will receive payments on November 1 and November 29, due to December 1 falling on a weekend.
Understanding the Two-Payment Schedule
While receiving two payments in one month may seem like a bonus, it’s essential to understand that it’s not an additional benefit. Instead, it is the standard monthly payment being issued earlier due to scheduling conflicts. The second payment on November 29 is meant to cover December, so recipients won’t receive another payment until January 2025.
For more information about the upcoming changes to Social Security, visit Manistee News.
What Else to Expect in 2025
Along with the double payments in November, Social Security recipients can expect a Cost-of-Living Adjustment (COLA) in 2025. This increase will help beneficiaries cope with inflation and rising living costs. The exact percentage of the COLA increase will be announced in October 2024 and will be applied to January 2025 payments.
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How This Impacts SSI Beneficiaries
This adjusted payment schedule might create temporary relief for some SSI beneficiaries. However, it’s essential to budget carefully since December will have no additional payments. The COLA increase in 2025 will also help low-income individuals keep up with essential expenses like housing, food, and healthcare. These adjustments are part of Social Security’s continued effort to support vulnerable populations across the country.