Social Security update: Direct payment worth $914 arriving in 28 days

Money
A Pakistani money trader shows U.S. 100 dollar notes at a currency exchange office, in Lahore, Pakistan, Thursday, Jan. 28, 2023. Cash-strapped Pakistan’s currency plunged Thursday against the dollar after the government indicated it was ready to comply with tough conditions set by the International Monetary Fund for the next tranche of its bailout package. (AP Photo/K.M. Chaudary) K.M. Chaudary/AP

Social Security update: Direct payment worth $914 arriving in 28 days

Video Embed

Supplemental Security Income recipients will receive their next payment in four weeks, according to the Social Security Administration‘s schedule. Individual filers will get $914.

The next payment, scheduled for May 1, is one of 12 payments that SSI recipients receive in a 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.

$90 CREAM AND $10 TOOTHPASTE: COMPANIES TARGET BIG SPENDERS

For months in which the first day takes place on a weekend or a holiday, the checks are sent on the last business day of the previous month, according to the SSA. Because of this scheduling quirk, recipients got two checks in March.

Other groups also qualify for the May 1 payment, including eligible couples, who will receive a payment of $1,371. Essential people who live with a person receiving SSI and provide necessary care will get a payment worth $458.

CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER

SSI payments were first issued by the Social Security Administration in January 1974, and the amount recipients receive has increased for cost-of-living adjustments each year since 1975, the agency said.

The supplemental payments are separate from the retirement pay that retirees receive each month.

© 2023 Washington Examiner

Related articles

Share article

Latest articles