Social Security update: Direct increased SSI payment worth $914 to arrive in only three days
Asher Notheis
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In only three days, Supplemental Security Income recipients will receive a payment of $914, a slight increase from the SSI payment they received earlier this month.
The recipients are receiving two payments this month due to the first day of January falling on a national holiday, New Year’s Day. As a result, the payment scheduled for Dec. 30 will kickstart the 2023 schedule of SSI payments, with the upcoming payment serving as January’s payment, according to the Social Security Administration.
At $914, the Dec. 30 payment will be slightly higher than the $841 payment that recipients received on Dec. 1. This increase is the result of a cost-of-living adjustment made by the SSA, which increases the payments almost every year to keep up with inflation.
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The two payments together will total $1,755.
The cost-of-living adjustment for 2023 will be 8.7%, making it the largest adjustment the SSA has made since 1981, when the adjustment was 11.2%. The biggest adjustment made by the SSA was made in 1980, when the adjustment was 14.3%. The only years when no adjustments were made were 2010, 2011, and 2016, according to the SSA.
Eligible couples for SSI and essential persons, meaning someone who lives with a person receiving SSI and provides necessary care, will also get a second December payment on Dec. 30. Couples will receive $1,371, while essential persons will get $458, according to the SSA.
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Every year, a total of 12 SSI payments are issued by the SSA to recipients to ensure they get one payment every month. These payments are usually made on the first of the month, but on days when the first day of a month occurs on a weekend or a holiday, the payments are given on the last business day of the month.