Supplemental Security Income recipients will collect their next new payment on Tuesday, October 1. SSI recipients are always the first to receive money from the Federal Government.
Besides, the Social Security Administration will not take long to deliver retirement benefit payments of up to $4,873. October 3 will be when retirees will receive their direct deposit if they qualify.
SSI and Social Security payment eligibility for October 1-3
To get SSI you must continue being eligible. For example, if you have additional earnings it may affect your eligibility and your payment amount. Getting married is another factor that could increase or decrease your SSI payments, so report any changes as soon as you can.
SSI is only for those who:
- are aged 65 or older
- are blind
- have a qualifying disability
- both children and adults may be eligible
While Supplemental Security Income payments focus on these requirements, Social Security retirement benefits are completely different. To get retirement benefits you must:
- be at least 62 years old
- have worked for a minimum of ten years
- have earned at least 40 Social Security or work credits (a maximum of 4 per year)
- filing for retirement benefits is mandatory
- approval is also necessary
To get retirement benefits on October 3 you must have been receiving Social Security since before May 1997 or receive SSI at the same time. That means some SSI recipients will collect 2 payments during the same week in early October.
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SSI and Social Security retirement benefit amounts
The maximum amount an essential person on Supplemental Security Income can get is up to $472. Those who are married and are both eligible can receive up to $1,415.
In between, individuals can receive $943. These maximum amounts will remain the same until December 31, 2024. That will be when the COLA boost will come into effect for these beneficiaries.
Retirees can collect a monthly payment of up to $4,873 if they meet all the strict conditions for high earners like filing at 70 or earning the contribution and benefit base for 35 years of work. On average, that will be about $1,919 said SSA last August.
