Arriving In 9 Days Is The First Increased Direct SSI Payment Worth $914 – Update On Social Security
9 days from now, Beneficiaries of Supplemental Security Income will be getting their monthly $914 payment for January 2023. The payment set to be rolled out on Dec. 30 will be the second for December due to a scheduling quirk, with the first installment of $841 that had taken place on Dec. 1, making the amount total $1,755 for the month, per schedule from the Administration Of Social Security.
The checks are typically rolled out on the first of a month. The Dec. 30 payment is for the January 2023 SSI because Jan. 1 falls on Sunday, and it is the first round strengthened with the yearly cost-of-living adjustment implemented to keep up with inflation.
According to a published post by Washington Examiner, Social Security payments are expected to get an increase of 8.7% cost-of-living adjustment next year, and SSI will get a boost of $73 per month in 2023 from the payments in 2022, which results in the $914 figure.
Social Security update: First increased direct SSI payment worth $914 to arrive in just nine days (Photo: Washington Examiner)
Social Security update: First increased direct SSI payment worth $914 to arrive in just nine days
Couples on the program who will claim about $1,261 a month will get a boost up to $1,371, per CNBC. Essential persons, people who live with someone receiving SSI and provide them with necessary care, will get $458.
There are going to be four months in 2023 featuring double payments due to the first of the succeeding month falling on a weekend or holiday. This includes March, June, September, and December.
The program began delivering payments in 1974 and is aimed to provide fiscal relief to individuals with disabilities. There are over 7 million people who receive payments from the program, while some 65 million receive Social Security.
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