By Raúl Rodríguez Cota
Jun 24, 2024, 1:13 PM EDT
The Social Security Administration will make direct deposits next week, starting with beneficiaries of the Supplemental Security Income (SSI) Program in the United States.
SSI recipients receive their payments in a single day, so everyone should receive their money by July 1 if they are eligible.
Some people will receive two payments next week: SSI on July 1 and Social Security on July 3.
This applies to those who have low incomes and receive retirement or disability payments (SSDI), ensuring that these low-income beneficiaries can have extra monthly income.
People who started receiving Social Security before May 1997 will only receive the July 3 payment.
SSI payments can be up to $943 for singles and up to $1,415 for eligible married couples, receiving an average of $697.
For those receiving SSI and retirement payments, the payment can be about $574 if you are 65 or older, and an average of $743 for people ages 18 to 64.
On the other hand, Social Security payments average $1,916, although this amount may be less if you also receive SSI.
Higher earners can receive up to $4,873 on July 3.
SSDI recipients who began receiving payments before May 1997 also qualify for the July 3 direct deposit.
According to the Social Security Administration, the average SSDI payment is approximately $1,537 and the maximum SSDI benefit is $3,822 in 2024.
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? Social Security: $4,873 for retirees who meet these requirements