Social Security announces December payment changes

The Social Security Administration has announced a significant change to the Supplemental Security Income (SSI) payment schedule for January 2025. SSI recipients will receive their January benefits early, on December 31, 2024, as January 1, 2025, falls on a weekend. The December 31 payment will include the 2.5% cost of living adjustment (COLA) announced last October. This adjustment helps offset the effects of inflation and ensures that the purchasing power of SSI benefits is not eroded by rising prices. On average, SSI beneficiaries will receive $715 per month. However, the exact amount will vary based on individual circumstances. Individuals will receive approximately $967, while those meeting the essential person (EP) standards will get an additional $484, bringing the total to $1,451 for individuals and $1,934 for couples. To qualify for SSI, recipients must meet specific income and resource restrictions set by the SSA. Eligibility requirements include being blind, disabled, or at least 65 years old, having limited means, being a U.S. citizen or national, and residing in one of the 50 states.

December benefits adjustment for SSI

The SSA provides an online tool to help determine eligibility. If an application is accepted, a “protective filing date” will be generated, which can influence the start of monthly payments. In some cases, retroactive compensation may be provided based on the filing date. Income requirements for SSI consider any money or in-kind items that can be used to pay for housing or food. The SSI payment is based on monthly wages, with some forms of earned income excluded from the SSA’s calculations. Monthly income must fall below $1,971 for individuals if it comes exclusively from wages and $963 if it comes from other sources. For couples, the income cap is $2,915 if it comes solely from wages. Certain payments, such as the first $20 of a month’s total income, SNAP benefits, and income tax refunds, are not counted as income when determining SSI eligibility. Beneficiaries can visit the SSA’s official website for more information and to determine their eligibility for SSI payments.