People in the United States are saving money for Black Friday. This includes people who get Social Security funds for retirement, disability, or SSI. Checks will be sent out based on the Agency’s payment plan until November 29, 2024.
Because of this, there will be a payment on Black Friday. The thing is, this payment is only for 7.5 million Americans who get Supplemental Security Income (SSI).
Why is there an SSI payment on November 29, 2024? Social Security explains it
Because December 1 is a Sunday, the last payment for November will be on November 29. All financial companies, like banks and the SSA, will be closed. That’s why the payment needs to be sent 48 hours ahead of time.
Keep in mind that this is the second time in November that the Social Security Administration will send out an SSI check. On November 1 and November 29 (for December), SSI will be sent out.
Don’t spend the money you get on November 29. Save it for December. There is no bonus here, and this is not an extra payment from the government. Make good use of it.
Will the November 1 payments and the SSI check on Black Friday include Social Security’s COLA increase?
The 2025 COLA increase will not be part of any of the SSI payouts made in November. Which means that everyone who is qualified and gets Supplemental Security Income will have to wait until December 31 to get the COLA increase.
If you get Social Security, your checks will go up by 2% every three weeks on January 3, 8, 15, and 22. Don’t forget that you have to stay qualified for SSI in order to get it.
If your income or resources have changed, you should report them because it could lead to an excess. In November, the most that SSI will pay out is:
- Supplemental Security Income recipients can get up to $943
- Eligible married couples on SSI can get up to $1,415
- An essential person can receive from the Federal government up to $472
Also See:- Social Security Reveals a Cost-of-Living Boost—Here’s What You Can Expect