Those who receive Supplemental Security Income (SSI) are slated set to receive their second of two December payments in about two weeks, totaling $1,755 in SSI benefits for the month.
Generally, SSI payments are issued one time per month, but December is one of three months in 2022 where payments are sent out twice in a single month, the schedule shows. The reason why is due to a technicality because some months start on a Sunday
However, it does not mean that an SSI recipient is receiving more payments, the schedule shows. The SSI payment sent out on Dec. 1 is replacing the one that would have been sent on Jan. 1, 2023. No SSI checks are going out in January because the month starts on a Sunday.
“In general, monthly amounts for the next year are determined by increasing the unrounded annual amounts for the current year by the COLA effective for January of the next year,” the website says. “The new unrounded amounts are then each divided by 12 and the resulting amounts are rounded down to the next lower multiple of $1.”
Increase
The agency announced in mid-October that COLA for Social Security and SSI benefits will increase by levels not seen since the early 1980s. Retirees can expect an average monthly payment increase of about $140 per month due to the COLA, analysts have forecasted.“The 8.7 percent cost-of-living adjustment (COLA) will begin with benefits payable to more than 65 million Social Security beneficiaries in January 2023,” said the agency, which added that “increased payments to more than 7 million SSI beneficiaries will begin on December 30, 2022,” it said, noting that some people receive both Social Security and SSI payments.
“These are income-based programs,” Johnson told USA Today. “Most, if not all of them, are easily administered through the states. If we’re forecasting a COLA that’s close to 9 or 10 percent, yes of course that’s going to affect, not only your eligibility for low-income benefits, it’s going to for everyone else, for people who don’t get benefits.”
