Approximately 7.5 million Americans get Supplemental Security Income payments. SSI is a benefit for low-income households that is normally distributed on the first of the month. As a result, if you receive your first check or direct deposit on Black Friday, November 29, 2024, you may be shocked. The reason Social Security scheduled this federal payout for Black Friday is easy.
Social Security should have established a date of December 1st. Nonetheless, it’s Sunday, and the Agency never sends checks or deposits on weekends. As a result, the monthly SSI payment is issued by the Social Security Administration on the prior working day. So its offices are open, as are banking institutions.
SSI amounts on Black Friday
The greatest amount an individual on SSI can receive on Black Friday is $943. For your knowledge, the November 29 payments will exclude the 2025 COLA rise.
To get the 2.5% increase, all SSI beneficiaries must wait until their monthly payment is due on December 31, 2024. After the COLA increase takes effect, the maximum amount for an individual will be $967.
Returning to current values before COLA, an eligible married couple can receive up to $1,415 on Black Friday. From December 31, 2024, it will be $1,450. An important person receiving Supplemental Security Income payments will receive up to $472 on Black Friday.
Who is eligible for SSI on Black Friday?
To receive Supplemental Security Income benefits on November 29, you must have filed for and obtained approval from Social Security. Of course, you must be eligible to continue receiving these monthly payments.
For example, getting married or inheriting a big sum of money can change your payment eligibility. Therefore, it is critical to report any changes to the Social Security Administration.
In general, you qualify for SSI if:
- You have little or no resources
- You have a low income
- You have a disability, are blind, or at least 65 years old
- Meet residency and other requirements