August is a busy month for Social Security beneficiaries, with multiple payment dates scheduled for both Supplemental Security Income (SSI) and Social Security Disability Insurance (SSDI) recipients. If you’re wondering when to expect your benefits or how much you might receive, this guide has all the information you need.
SSI Payments
For those receiving SSI, an additional payment is set for August 30, 2024. This early payment is due to September 1 being a non-business day. As a result, the Social Security Administration (SSA) issues the payment on the preceding business day. This is in addition to the regular payment made on August 1, 2024.
SSDI Payments
SSDI payments in August are distributed according to beneficiaries’ birth dates:
- August 14: For those born before the 11th of any month.
- August 21: For beneficiaries with birthdays from the 11th to the 20th.
- August 28: For those born between the 21st and the 31st.
It’s important to note that these payment dates do not apply to those receiving SSI or those who began receiving benefits before May 1997.
SSI Payments
The amount received by SSI beneficiaries varies based on factors such as age and qualifying criteria. Here’s a breakdown of average payments:
- All beneficiaries: Approximately $697
- Aged 65 and older: About $574
- Aged 18-64: Around $743
- Under 18: Approximately $815
The maximum SSI payment amount is typically around $943, but this can vary depending on individual circumstances and additional state supplements.
SSDI Payments
SSDI recipients generally receive higher payments compared to SSI. The average SSDI payment is approximately $1,537. However, this amount can vary widely:
- Average payment: $1,537
- Maximum payment: Up to $3,822
The maximum payment is reserved for recipients who had high lifetime earnings, worked for at least 35 years, and delayed filing for benefits as long as possible. These individuals also had to have worked in jobs covered by the SSA, distinguishing SSDI from SSI, which does not require work history.
Your Payments
Both SSI and SSDI are essential programs under the SSA that provide financial assistance to those in need. SSI is typically for individuals with limited income and resources, including older adults and disabled individuals. On the other hand, SSDI is for disabled individuals who have a sufficient work history.
If you’re unsure about which benefits you qualify for or the exact amount you’ll receive, it’s advisable to contact the SSA directly or check your benefits statement. This can help you plan your finances and understand the benefits structure better.
FAQs
When will the next SSI payment be issued?
SSI payments for August are on the 1st and the 30th due to a weekend on September 1.
How are SSDI payments determined?
SSDI payments are based on work history and earnings, with a maximum of $3,822.
Can you receive both SSI and SSDI?
Yes, some individuals may qualify for both SSI and SSDI benefits.
Why is the August 30 SSI payment being issued early?
The payment is early because September 1 is a non-business day.
What is the average SSDI payment amount?
The average SSDI payment is approximately $1,537.
