FACTRAGE – Each month, the federal government distributes Supplemental Security Income (SSI) payments, a critical economic support for approximately 7.4 million Americans.

• Predictable Payment Schedule – SSI benefits are paid on the first of each month, unless the date falls on a weekend or federal holiday, in which case the payment is issued on the preceding business day.
• Recipient Demographics – As of April 2024, about 7.4 million people receive federally administered SSI payments, including children and adults with qualifying disabilities or those aged 65 and older with limited resources.
• Financial Scope – The maximum federal SSI payment in 2024 is $943 for an individual and $1,415 for a couple, with the average federal payment being approximately $697.

The consistent search for the SSI payment schedule highlights a fundamental economic reality: for millions, these dates are a crucial component of monthly financial planning. Understanding the schedule, the benefit amounts, and the economic forces that shape them provides a clearer picture of this significant federal program.

Your Upcoming SSI Payment Dates

The Social Security Administration (SSA) manages SSI payments with a straightforward rule: payments are due on the 1st of every month. However, the calendar can cause shifts. If the 1st falls on a Saturday, Sunday, or legal holiday, the payment is sent on the last business day before the 1st.

Here is the upcoming payment schedule for the remainder of 2024:

• July 2024: Monday, July 1
• August 2024: Thursday, August 1
• September 2024: Friday, August 30 (because Sept. 1 is a Sunday)
• October 2024: Tuesday, October 1
• November 2024: Friday, November 1
• December 2024: Friday, November 29 (because Dec. 1 is a Sunday)
• January 2025: Tuesday, December 31 (because Jan. 1 is a federal holiday)

This schedule ensures recipients have access to funds before the start of the month when payments are intended to be used.

The Numbers Behind SSI: A Profile of 7.4 Million Recipients

The SSI program is a financial backstop for individuals with significant limitations on their ability to earn income. It is distinct from Social Security retirement or disability benefits (SSDI), which are based on a worker’s earnings history. SSI is a needs-based program financed by general U.S. Treasury funds, not Social Security taxes.

Analysis of SSA data reveals key details about the program’s reach: * Total Recipients: Approximately 7.4 million individuals received federally administered payments in April 2024. * Eligibility: Recipients are those who are aged 65 or older, blind, or disabled, and who have very limited income and financial resources. * Average vs. Maximum Payment: While the 2024 maximum federal benefit is $943 for an individual, the average payment is substantially lower at $697. This difference exists because a recipient’s countable income (from work, pensions, or other sources) can reduce their SSI benefit amount.

How Inflation Adjusts Your SSI Benefit

To prevent the erosion of purchasing power, SSI benefits are subject to an annual cost-of-living adjustment (COLA). This adjustment is directly tied to inflation as measured by the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).

For 2024, recipients saw a 3.2% COLA increase in their monthly payments. This adjustment raised the maximum individual benefit from $914 in 2023 to $943 in 2024. The COLA is calculated by the SSA based on third-quarter inflation data from the previous year. While this provides a buffer against rising costs, the timing can create a lag between when inflation peaks and when benefits increase. This mechanism is a core feature of how the program attempts to maintain its economic relevance for recipients navigating a changing economy.