By Samuel Gonzalez
May 25, 2024, 12:34 PM EDT
Of the millions of payments sent by the Social Security Administration (SSA), there are some that are sent only once a month to all beneficiaries. Unlike Social Security retirement payments, which are deposited on different days, all Supplemental Security Income (SSI) beneficiaries receive it on a single day. AND The June deposit, between $943 and $1,415, will be made much sooner than expected.
According to the SSA payment schedule, SSI benefits are paid on the 1st of each month. However, this rule has its clear exceptions that cause these benefits to be brought forward, and any that are distributed by the Administration, such as those aimed at retirees and the disabled.
When one of the days on which the SSA usually makes deposits falls on a weekend or holiday, payment will be made the previous business day.
This is precisely what happens with the June SSI payment. After June 1, when deposits for this program should be made, is a Saturday, Beneficiaries must review their accounts on Friday, May 31the day on which the SSA must make the June SSI deposit.
This same situation will be repeated with the September and December paymentsafter the 1st day of those months falls on a weekend.
If we take into account that SSI is intended for low-income and/or disabled people over 65 years of age, it represents a better financial organization to make money work throughout the month. The next scheduled SSI payment is until July 1.
The average SSI payment is $943. for individual beneficiaries and $1,415 dollars for marriages. The amount may be less depending on your income, the income of certain family members, your living situation, and other factors.
The weekend or holiday payment rule applies to all types of payments sent by the SSA, as mentioned. And, in fact, in an extraordinary way, This advance payment will happen again in June.
The third payment of Social Security retirement and disability benefits, which is usually scheduled for the third Wednesday of the month, will be brought forward after June 19, the holiday known as Juneteenth, a day that celebrates the end of slavery in the United States. For this reason, beneficiaries who were born between the 11th and 20th will receive their Social Security payments on Tuesday, June 18, something that very rarely happens when these benefits are discussed.
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