Pay special attention to this news if your family’s economy depends on Social Security, because you will have seen dozens of them reporting that the SSa is going to make one less payment for 2025. Calm down, it is not like that, and there is an explanation.
What is the Supplemental Security Income (SSI) program?
It is a social program of the state government that is intended for people with lower than average incomes. It is a kind of “payment” that arrives every month to help cover basic expenses (such as food, clothing and household expenses such as rent).
An adjustment in the calendar
That’s right, and this is how it is explained, the Social Security Administration (SSA) of the United States has announced to its users that it is going to change the date of the first payment of the year 2025. This does not necessarily mean that the beneficiaries are going to lose money, wait! It has only generated confusion among people who depend on this social income, we tell you right now that you do not have to worry, you are not going to lose money!
So what will the change consist of?
Since the first day of 2025 is a holiday (New Year’s Eve) and the administration will be closed (that is, they will not be able to deposit this money on this day), they wanted to advance the payment for January 2025, so, no, you are not going to lose money, they will only advance the payment for January to December 31, so, the payment scheme for 2025 will be the same, 12 annual payments, except that this advance will mean that in January there will be a perception of one less payment, but you already know that is not the case!
And who can apply for SSI?
There are three social groups that are especially vulnerable in our society, and it is to them that this social benefit is intended.
- People with disabilities who are unable to work
- People over 65 years of age with low income
- People with low economic resources.
It is necessary to remember that the salary limit to request this payment is $2000 for a single person and $3000 for a couple (who file the declaration jointly)
How much money will beneficiaries receive in 2025?
By 2025, the Cost of Living Adjustment (called COLA) will increase for beneficiaries by 2.5%
- For single people it will go from $943 to $967
- For couples it will increase from $1415 to $1450
- For essential people it will rise to $584
How is this payment different from Social Security?
Although both are managed by the SSA, SSI has absolutely nothing to do with it: Social Security is based on contributions from workers (and depends on your previous income in the fiscal year), and SSI is for people who are experiencing financial hardship, regardless of whether you have worked and paid into the system or not.
Moreover, they are not mutually exclusive, meaning that if you meet the requirements, you can apply for both payments.
Can you give me any tips for saving money?
Although this help can be very useful, the best advice we can give you is to plan your expenses, and also taking into account that this month, the amount corresponding to January will be deposited much earlier, it will be crucial to organize your expenses and watch every cent you spend until the February payment arrives.
Remember that the administration has taken this measure to avoid payment delays during the holidays, so it will most likely reach your bank account between December 30 and 31. Is there a better way to start the year than with your payment safely deposited in the bank?