Social Security update: Direct payment worth $914 arrives in 24 days

Federal Supplemental Security Income recipients will get their payment for November in 24 days, and individual filers could receive up to $914.

The November check will be distributed on Wednesday, Nov. 1, and it will be the first of such payments since Friday, Sept. 29. The large gap in payments is because of a kink in the Social Security Administration’s calendar, which resulted in the issuing of two checks in September. This was because Oct. 1 was on a weekend.

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The money that beneficiaries receive is determined by several important factors, including the filer’s income, living situation, and assets. Individual filers receive a maximum payment of $914 per month. Eligible couples can receive up to $1,371 per month, and essential persons, who live with someone receiving SSI and provide them with necessary care, get a lower monthly payment of up to $458.

Filers need to be at least 65, and they must meet specific financial requirements to qualify for the payment. Some people under 65 could qualify as well 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.

It’s also possible for children to 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.

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The supplemental security payments are separate from the regular Social Security retirement checks and can be received in addition to the retirement checks.

The payments were first issued by the Social Security Administration in January 1974, and payment rates have increased for cost of living adjustments since 1975, according to the agency.