Social Security update: Direct payment worth $914 arriving in 26 days
Misty Severi
Video Embed
Supplemental Security Income recipients will receive their May payment in 26 days. Individual filers will get $914, according to the Social Security Administration‘s schedule.
The next payment, scheduled for May 1, is one of 12 payments that SSI recipients receive each year. Most SSI payments are sent out to recipients on the first business day of the month, but recipients did not receive a payment in April, because April 1 fell on a weekend.
COUPLES WHO SHARE BANK ACCOUNTS REPORT FEWER FINANCIAL PROBLEMS: STUDY
Other groups also qualify for the May 1 payment. Eligible couples will receive a payment of $1,371. Essential people, who live with a person receiving SSI and provide necessary care, will get a payment of $458.
For months when the first takes place on a weekend or a holiday, checks are sent on the last business day of the previous month, according to the SSA. This guarantees recipients receive their check by the first of the month. Because of this scheduling quirk, recipients received two checks in March — one on March 1 and the other on March 31.
CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER
SSI payments were first issued by the Social Security Administration in January 1974. The amount recipients receive has increased based on cost-of-living adjustments each year since 1975, the agency said.
The supplemental payments are separate from the main retirement pay that retirees receive each month.