Social Security update: Direct payment worth $914 arrives in 11 days

Supplemental Security Income beneficiaries will receive their next monthly payment in 11 days, worth up to $914 for individual filers.

The November disbursement will be sent out on Wednesday, Nov. 1, and will be the first SSI payment since the end of September. October’s payment went out in September because of a kink in the Social Security Administration’s schedule that saw two payments go out that month.

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Recipients need to be at least 65 and meet certain financial requirements to qualify for the payments. Some people under 65 could still qualify for the payments if they are at least partially blind or have a physical or mental disability that severely limits their daily activities for at least one year or is expected to result in death, according to the SSA.

The amount of money that each beneficiary receives is determined by several important factors, which include the filer’s income, living situation, and assets. Individual filers, for example, receive up to $914 per month.

Couples who file jointly can also receive monthly payments worth up to $1,371. Essential persons, who live with someone receiving SSI and provide them with necessary care, get a lower monthly payment of up to $458.

Children could also be eligible for SSI payments if they are at least partially blind or have a physical or mental condition that seriously limits their activities for at least a year. Children could also receive SSI if their parents do not receive SSI benefits or if they have limited income and savings.

Not every recipient will receive the maximum payment, so filers should check how much they can expect through the SSA’s calculator.

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The monthly amount of each benefit is expected to rise by 3.2% in 2024, according to the SSA. It will also rise by the same percentage for regular retirement payments, which are separate from SSI payments.

Regular retirement payments can be received in addition to SSI.