If you receive Supplemental Security Income (SSI), there’s good news for you! Starting in January 2025, SSI recipients will see an increase in their monthly payments thanks to the annual Cost-of-Living Adjustment (COLA). This means more money in your pocket to help with everyday expenses.
How Much Will You Get?
The new maximum federal SSI payment for individuals will increase to $967 per month in 2025, up from $943 in 2024. This adjustment reflects a 2.5% increase due to inflation, helping recipients keep up with rising costs.
If you’re wondering about the $762 amount, that’s the average payment many SSI recipients receive, depending on their income and living situation. Some people might get more or less based on their financial circumstances.
Who Qualifies for SSI?
SSI is designed to help people with limited income and resources, especially those who are:
- 65 years or older
- Blind or disabled
- Earning little to no income
- Having limited financial resources (less than $2,000 for individuals, $3,000 for couples)
- U.S. citizens or qualifying non-citizens
If you already receive SSI, the increase will be automatically applied—there’s nothing you need to do! If you’re not receiving SSI but think you qualify, you can apply through the Social Security Administration (SSA).
When Will You Get Paid?
SSI payments are usually sent out on the first day of each month. However, because January 1, 2025, is a federal holiday, payments will be sent out a day early on December 31, 2024. That means you’ll get your first increased payment before the new year even begins!
Final Thoughts
This SSI boost will provide much-needed financial relief to millions of Americans. If you’re already receiving SSI, expect to see the higher amount in your next deposit. If you’re unsure about your eligibility, now is the time to check and apply.
Want to know more? Visit the Social Security Administration’s website for official details and updates!
