In just 17 days, eligible recipients for Supplemental Security Income will receive the first of two payments for the month of September, totaling up to $1,652.
The first payment for eligible individuals, worth $841, will be given on Sept. 1, while the second one, worth the same amount, will be given at the end of the month. September is one of three months when recipients receive two payments, with the others being April and December, according to the Social Security Administration.
Eligible couples who qualify for the maximum amount of SSI will receive payments of $1,261 on Sept. 1 and Sept. 30, while an “essential person” will receive $421 on the same dates.
PROPORTION OF YOUNG PEOPLE COLLECTING UNEMPLOYMENT GREW IN WAKE OF PANDEMIC
Social Security payments will likely increase in 2023 due to growing inflation rates, according to analysts. However, some people may earn less than what they currently receive due to the increased payments placing the recipients in a higher tax bracket.
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It is estimated that at the current rate, Social Security will be unable to be paid out in full by 2035 without action from Congress, according to a report from Nextstar Media Wire.