SSI Payment Schedule and Changes for November and December 2023

SSI Payment Schedule and Changes for November and December 2023. No More SSI Payments in November – Find Out When the Next Payment Will Arrive Preparing for your upcoming SSI payment is crucial to manage your finances effectively. Discover the date of your next SSI payment.

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Inconsistent Payment Dates

After the SSI payment on September 29, another one was made on November 1, highlighting the variability in payment dates, dependent on holidays and weekends.

Advance Payments on Holidays or Weekends

If your payment is scheduled for a holiday or falls on a Saturday or Sunday, you’ll receive your funds in advance, which is a common practice by Social Security.

Upcoming SSI Payments

Before the year’s end, SSI beneficiaries can expect two more payments. Review the Social Security payment schedule for 2023 and 2024 to verify these dates.

When Will the Next SSI Payment Arrive?

The following SSI payment is set for direct deposit on December 1 with no exceptions or advance payments.

COLA Increase 2024

Many Supplemental Security Income beneficiaries are eager to receive a payment of up to $943, thanks to the 2024 COLA increase. However, the December 1 payment will reflect the 2023 COLA increase, so you’ll need to wait a bit longer to access the extra funds, which experienced a smaller increase (3.2%) compared to the previous year (8.7%).

Benefiting from COLA Increases

While the 3.2% increase may seem modest, it significantly contributes to the buying power of SSI and other Social Security beneficiaries, helping them maintain their financial stability. COLA adjustments vary from year to year and are linked to inflation.

SSI Payments in December 2023

In December 2023, there will be two Supplemental Security Income payments. The first will be on December 1, followed by another one as the year comes to an end. However, it’s crucial to note that the latter payment on December 29 is intended for January, not December, so it’s essential to manage these funds wisely.

Benefiting from the 2024

COLA Boost SSI recipients will be the first to experience the 2024 COLA increase, as their January payment, scheduled for January 1, arrives three days earlier. Even a 3.2% increase can make a difference over time. For eligible married couples, the new monthly amount will be $1,415, up from $1,371.

Financial Opportunities

Saving this additional income each month can help you build an emergency fund or invest in unexpected expenses. Individuals qualifying for $943 will receive an extra $29, while essential persons’ amounts will increase from $458 to $472.