According to the SSA’s schedule, those in line for the Social Security Administration’s Supplemental Security Income program will receive their August payment in 11 days, which could be worth up to $914 for individual filers.
June was the last time such payments were made, and the first week of August will be the next. Those who receive the money will normally get one pay check per month, however during some months of the year they may receive two, depending on whether the the first of the month falls on a weekend: here, beneficiaries will get the check on the last business day of the previous month so recipients can have the money by the 1st.
How do I know if I am eligible?
In order to be eligible for the Social Security benefit, which is different than the usual retirement pay checks, a person has to be over the age of 65 and meet specific financial requirements. Other criteria for eligibility include being partially blind, or having a physical or mental condition that limits their daily activities for at least one year.
Will there be more social security payments after the summer?
In short, yes. SSA payments continue throughout the whole year, meaning that you don’t have to worry about them stopping any time soon. In fact, the payment schedule for 2023 has already been published: here you can find out exactly when in the month the payments will be made, as well as checking the average increases that have occurred.
Will the payments be the same in 2024?
The Social Security payments change each year depending on the cost of living, and in 2024 they are set to increase again. They went up in 2023 due to inflation, and in 2024 while they are still set to increase further, the amount will be smaller. Early estimations put the increase for 2024 at around 3%.
