November 2024 brings a unique situation for Supplemental Security Income (SSI) beneficiaries: they will receive two SSI payments within the same month.
This additional payment isn’t an increase in benefits but a scheduling adjustment made by the Social Security Administration (SSA) to ensure recipients receive their December benefits on time. Since December 1 falls on a Sunday this year, the SSA will deposit December’s SSI payment early, on Friday, November 29, alongside the regular November 1 payment.
Here’s what SSI and Social Security Disability Insurance (SSDI) beneficiaries should know about this “extra” payment in November, payment schedules, and the impact of the 2025 Cost-of-Living Adjustment (COLA).
Why Will SSI Recipients Receive an Extra Payment?
SSI payments are typically made on the first business day of each month. When this date lands on a weekend or holiday, the SSA issues payments on the last business day of the previous month.
In 2024, December 1 is a Sunday, so the SSA will distribute December SSI payments on November 29, 2024. This adjustment ensures that SSI recipients receive their benefits without delay, helping them avoid disruptions in their financial planning.
Understanding the Supplemental Security Income (SSI) Program
SSI is a federal program that supports people with limited income and resources, including seniors and individuals with disabilities. Unlike SSDI, which is funded by payroll taxes, SSI is financed by general U.S. Treasury funds.
This difference means that even individuals with little or no work history can receive SSI benefits if they meet the income and resource requirements.
For 2024, the maximum monthly SSI benefit is:
- $943 for individuals
- $1,415 for couples
These amounts will increase by 2.5% in 2025 due to the COLA, which aims to help beneficiaries cope with inflation and rising living expenses.
November Social Security Payment Schedule
In addition to SSI, Social Security retirement and disability payments are distributed based on beneficiaries’ birth dates. Here is the SSDI and retirement payment schedule for November 2024:
- November 13: Payment for beneficiaries born between the 1st and 10th of any month.
- November 20: Payment for beneficiaries born between the 11th and 20th.
- November 27: Payment for beneficiaries born between the 21st and 31st.
These payments follow a standard Wednesday schedule each month, offering beneficiaries a predictable timeline for their deposits.
2025 SSI Payment Adjustments
In 2025, several other SSI payment adjustments will take place due to weekends and holidays:
- January Payment: Issued on December 31, 2024, as January 1 is a holiday.
- February and March: The February payment will be issued in late January, so there will be no payment issued in March.
- May and August: Payments for May and August will be issued in April and July, respectively, so there will be no payment in June or September.
These adjustments are meant to ensure that SSI recipients do not experience delays in accessing their funds when the first of the month falls on a holiday or weekend.
Key Differences Between SSI and SSDI
While SSI and SSDI both provide support to people with disabilities, they differ significantly:
- Funding Source: SSDI is funded by payroll taxes, while SSI is funded by general U.S. Treasury funds.
- Eligibility Requirements: SSDI requires a work history with Social Security tax contributions, whereas SSI is needs-based and does not require a work history.
- Payment Timing: SSDI payments follow a regular monthly schedule that does not adjust for holidays, while SSI payments adjust when the first of the month falls on a weekend or holiday.
These distinctions are important, as they affect who qualifies for each program and how payments are scheduled.
Impact of the 2025 Cost-of-Living Adjustment (COLA)
Starting January 2025, SSI benefits will increase by 2.5% due to the annual COLA. This adjustment helps protect the purchasing power of beneficiaries, who face rising costs of essentials, particularly housing and healthcare.
For SSI beneficiaries, this COLA increase is critical, as it helps them manage inflation-driven expenses while relying on a fixed income.
With the COLA increase, the average monthly payment for all Social Security benefits (including SSDI and retirement) is projected to reach $1,957. This adjustment provides additional support to those most affected by inflation, helping them better manage their budgets in the year ahead.
Summary: Additional November Payment for SSI Beneficiaries
November 2024 will see an additional SSI payment on November 29 due to a scheduling adjustment for the December benefit. This early payment aims to ensure that recipients have their funds without delay, maintaining timely financial support.
For beneficiaries, it’s essential to understand these adjustments and stay informed about the upcoming COLA increase in January 2025, which will boost their monthly benefits by 2.5%.
