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Possible Reasons for Double SSI Payment in May

In May, recipients of Supplemental Security Income (SSI) will receive two payments due to the Social Security Administration's payment schedule, which includes two disbursements in August and November.

By Newsd
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Possible Reasons for Double SSI Payment in May
Source: La Grada

Possible Reasons for Double SSI Payment in May: In May, recipients of Supplemental Security Income (SSI) will receive two payments. Why? Indeed, the rationale pertains to the Social Security Administration’s (SSA) payment schedule. In the event that the first of the month falls on a holiday or weekend, SSI benefits are disbursed on the preceding business day. The initial of June falls on a Saturday, as opposed to a Wednesday in May; therefore, the June payment is scheduled to be transmitted on Friday, May 31st. Additionally, SSI recipients will receive two disbursements for the same purpose in August and November.

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2024 SSI Payment Schedule

  • May 2024: Wednesday, May 1st
  • June: May 31st, 2024, Friday
  • Monday, July 1st, 2024
  • August 2024: Thursday, August 1st
  • September 2024: Friday, August 30th
  • October 2024: Tuesday, October 1st
  • November: November 1, 2024, Friday
  • December: November 29th, 2024, Friday

How many individuals are SSI beneficiaries?

In March 2024, SSI benefits were received by 7.4 million individuals, of which more than half were between the ages of eighteen and sixty-four.

Age-specific average payments in March 2024

  • Minors: $821.38
  • 18-64: $744.1
  • More than 65: $574.89

Seniors receive lower payments in comparison to other age groups due to the fact that a greater number of beneficiaries are also qualified to obtain Social Security benefits.

To what extent have the value of SSI benefits appreciated in the past year?

The average increase in the value of SSI benefits since March 2023 has been three percent; however, variations in this trend can be observed across different age cohorts. Since last year, SSI benefits for recipients under the age of 18 have increased by 2.1 percent, while those for recipients aged 18 to 64 have increased by 3.4 percent. Those aged 65 and older have witnessed a 3.8 percent increase in value.

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