Social Security update: Direct payment worth $914 arriving in two weeks
Misty Severi
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Supplemental Security Income beneficiaries will receive their monthly payment, worth $914 for individual filers, in two weeks.
The payments will entail different amounts for different filers — individual filers, joint filers, and essential persons will all receive the payments on May 1.
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Eligible couples will receive $1,371, and essential persons, who live with someone receiving SSI payments and provide them with necessary care, will get their monthly payment of $458. Individual filers will receive $914.
The payments are delivered to beneficiaries on the first day of each month, except for when the first of a month falls on a weekend or a holiday. In that case, the Social Security Administration issues its monthly SSI checks on the last business day prior to the month so recipients have the check by the first of the month, according to the agency.
With the adjusted schedule, recipients get two checks in the same calendar month multiple times a year. However, beneficiaries continue to receive a total of 12 checks per year.
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There are four months in which two payments will be delivered this year: March, June, September, and December. This is because the first of the month falls on a weekend in April, July, and October, and Jan. 1 is a holiday.
SSI payments were first issued by the Social Security Administration in January 1974, with payment rates increasing for cost of living adjustments since 1975, according to the agency.