Supplemental Security Income (SSI) payments are typically deposited on the first of every month, unless the first falls on a weekend or holiday. According to the SSA’s schedule of Social Security benefits for 2022, August payments are scheduled to go out on Mon, Aug. 1.
If you received Social Security before May 1997 — or if you’re receiving both Social Security and SSI — then you will receive your Social Security payment on Aug. 3 and SSI on Aug. 1.
SSI is a need-based program that provides monthly benefits to those who have low income and free resources. To be eligible for SSI, you must meet the SSA’s following criteria:
Be age 65 or older
Partially or completely blind
Have a medical condition that keeps you from working, which is expected to last one year or result in death
The SSA says some states and territories may supplement the federal SSI benefit with additional payments, as well.
For 2022, the federal benefit rate is $841 for an individual and $1,261 for a couple, but the exact amount may vary based on your income, living arrangements and other factors. The maximum SSI amount changes based on cost-of-living adjustments (COLA) that apply to Social Security benefits. The COLA for 2022 is 5.9%, but based on new consumer price index data for June, The Senior Citizens League estimates that number could be as high as 10.5% for 2023, reported CNBC.
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If you typically receive paper checks, the SSA says to wait three additional mailing days before checking on the status of your payment if you don’t receive it on the scheduled date. If you receive a direct deposit, you can expect to receive your payment on the first, but this may depend on your bank.
Here is the Social Security Schedule of Payments for the 2022 calendar year.
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This article originally appeared on GOBankingRates.com: SSI Schedule: Supplemental Security Income Payments for August 2022