Social Security update: First of March’s double SSI payments worth $914 to arrive in 24 days
Asher Notheis
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Recipients of Supplemental Security Income are set to receive the first of two payments worth $914 in 24 days.
The money from this SSI payment, scheduled for March 1, will help people to afford basic items and goods, including food and shelter. These payments from the Social Security Administration are intended to help elderly, blind, and disabled people who have little or no income of their own, according to the SSA.
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Individual recipients will get a $914 check, while couples will receive $1,371 in keeping with the typical SSI calendar regimen. Essential people, those living with SSI recipients and providing necessary care, will receive payments of $458.
This payment will be the first of two payments that SSI recipients will receive next month. The second is scheduled for March 31. Recipients are receiving two SSI payments due on the first day of April, a Saturday, taking place on a weekend, according to the SSA’s 2023 schedule.
The SSA typically gives its SSI payment to recipients on the first of the month. A total of 12 payments are issued by the administration every year. However, when the first day of a month occurs on a weekend or holiday, the payments for that day are given on the last business day of the previous month.
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This year, the SSA will issue double payments to recipients in March, June, September, and December because the first day of the following month will either be on a weekend or holiday, according to the SSA’s 2023 schedule.
Some estimates indicate that Social Security will reach insolvency in 2034 at the earliest unless action by Congress is taken.