In only two days, recipients of Supplemental Security Income are set to receive a monthly payment of $914.
The money from this SSI payment, which will be sent to recipients on Feb. 1, will allow people to afford basic items and goods, including food and shelter. These payments from the Social Security Administration are intended to help elderly, blind, and disabled people who have little or no income of their own, according to the SSA.Individual recipients will get a $914 check, while couples will receive $1,371 in keeping with the typical SSI calendar regimen.
The SSA typically gives its SSI payment to recipients on the first of the month, with a total of 12 payments being issued by the administration every year. However, when the first day of a month occurs on a weekend or holiday, the payments for that day are given on the last business day of the previous month, as was the case with January.
This year, the SSA will issue double payments to recipients in March, June, September, and December because the first day of the following month will either be on a weekend or holiday, according to the SSA's 2023 schedule.SSI has been distributing money to eligible recipients since 1974 and provides payments to qualifying U.S. residents who are disabled. Over 7 million people receive payments from the program, while some 65 million receive Social Security.
Some estimates indicate that Social Security will reach insolvency in 2034 at the earliest unless action by Congress is taken.
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