Millions of Americans who receive Social Security retirement, SSDI, and SSI benefits are keeping a close eye on their payment dates.
Knowing when to expect these payments is crucial for managing monthly expenses and planning budgets.
Here’s a look at the upcoming payments, how much you can expect, and when each type of beneficiary will receive their next check or direct deposit.
Social Security, SSDI, and SSI Payment Schedule
The Social Security Administration (SSA) has confirmed the payment schedule for retirement and SSDI recipients for the month of September. Here are the key details:
- September 25, 2024: This is the next and final payment date for SSDI and Social Security retirement beneficiaries in September. This payment is for those who:
- Were born between the 21st and 31st of the month.
- Did not receive benefits before May 1997.
- Did not qualify for the earlier payments on September 3, 11, or 18.
If you meet these criteria, you can expect to receive your payment on September 25.
SSI Payment Update
If you are receiving Supplemental Security Income (SSI), your next payment won’t be in September.
Instead, your next check or direct deposit will be issued on October 1, 2024. This means SSI recipients won’t have to wait long to receive their benefits.
Payment Amounts for Social Security, SSDI, and SSI
It’s important to note that these upcoming payments do not yet include the 2025 Cost of Living Adjustment (COLA) increase, so the maximum benefit amounts remain unchanged for now. Here’s a breakdown of what recipients can expect based on their benefits:
- Social Security Retirement: The average retirement benefit is $1,920 per month, but the maximum can reach $4,873 for those who retire at full retirement age. However, most retirees receive less than the maximum.
- SSDI (Social Security Disability Insurance): The average SSDI payment is approximately $1,539 per month, with a maximum benefit of $3,822, which is the same as the highest benefit retirees can get at full retirement age.
- SSI (Supplemental Security Income): The maximum SSI payment is $943 per month for individuals and $1,415 for married couples. The average SSI payment is around $698, as most recipients have other sources of income or benefits that reduce their SSI amount.
How to Ensure You Receive Your Payments
To receive your Social Security retirement, SSDI, or SSI payments on time, you must meet the eligibility requirements and ensure that there are no issues with your account. For the September 25 payment, you must have:
- Applied and been approved for Social Security retirement or SSDI benefits.
- Followed all SSA rules and regulations.
- Been born between the 21st and 31st of the month (for this payment cycle).
- Not received benefits before May 1997.
- Not been a recipient of SSI (since SSI payments follow a different schedule).
If you meet all these criteria, your payment should be deposited or mailed to you on schedule. For SSI recipients, just be patient until October 1, when your next payment will be processed.
What to Expect for Future Payments
While there will be no changes to the payment amounts for September and October, COLA increases for 2025 are expected to be announced later this year.
These changes will affect your benefits starting in January 2025, boosting payments to keep up with rising living costs. Be sure to stay updated on any announcements from the SSA regarding this adjustment.
Whether you’re receiving Social Security retirement, SSDI, or SSI, knowing when your next payment is coming helps you plan better.
SSDI and retirement beneficiaries born between the 21st and 31st will receive their payments on September 25, while SSI recipients will receive theirs on October 1. Keep an eye out for any updates from the SSA regarding future COLA increases and changes to your benefits.
FAQs
When is the next Social Security retirement payment?
The next payment for Social Security retirement is scheduled for September 25, 2024, for those born between the 21st and 31st.
When will SSI recipients receive their next payment?
The next SSI payment will be on October 1, 2024.
What is the average Social Security retirement benefit?
The average Social Security retirement benefit is $1,920 per month.
How much can SSDI recipients receive?
SSDI recipients can receive an average of $1,539 per month, with a maximum of $3,822.
Will there be a COLA increase in 2025?
Yes, a COLA increase is expected in 2025, which will raise Social Security, SSDI, and SSI payments starting in January 2025.