Social Security benefits, USA News: Early next week, certain benefits recipients are due to get their latest monthly payment from the U.S.’s Social Security Administration (SSA). Social Security benefits are to be issued to two groups of beneficiaries, in what is the opening payment run on the SSA’s program schedule for November.
The SSA is to pay out November’s Social Security to recipients who began claiming their monthly benefits before May 1997. November 3 is also next month’s Social Security payment date for beneficiaries who concurrently claim Supplemental Security Income (SSI). A benefit for certain low-income, low-resource people, SSI differs from Social Security as it is needs-based. Eligibility does not depend on an applicant’s employment history. Worth an average of $735.86 per month, per the SSA’s latest statistics, SSI is to be paid out for November on Friday, October 30.
Upcoming Adjustments and General Schedule
In an attempt to protest beneficiaries’ purchasing power against the impact of inflation, the SSA is to raise Social Security and SSI payments by 3.6% in 2027. Across all Social Security beneficiaries, this translates into a rise of around $70 per month on the current average payment, which stands at a monthly $1,943.15.
Of the U.S.’s 71.6 million Social Security beneficiaries, most are paid on the second, third or fourth Wednesday in each month. Under this system, an individual’s designated Wednesday depends on their birthday. In November, however, the first date in this payment cycle will be moved forward by 24 hours, as Wednesday 11 is Veterans Day in the U.S. If you claim Social Security based on someone else’s work record, the SSA uses the other person’s birthday.
Banking and Management Options
Social Security recipients can provide the SSA with their banking information using the online “my Social Security” toll. Money can be loaded onto the Direct Express Card, a special debit card for recipients who do not have a bank account. Sign up for Direct Express at 1-800-333-1795 or 1-800-772-1213, or at a Social Security office.
