A Check of $967 – Social Security Prepares a New Year’s Eve Gift for Retirees: Nobody will wait for the holidays; December is right here. Said another way, Social Security also takes beneficiary welfare into account.
Among the members who get a fresh present from the Social Security Administration (SSA) you could be one. The greatest way to find is to understand completely how their calendar runs and make sure you satisfy all the criteria. Come along with us to learn further about it.
How does the SSA structure its Social Security schedule?
SSA will take all reasonable steps to ensure all Social Security benefits are received on schedule and in full. This suggests that they need to be dispersed in a manner that avoids mistakes or delays.
Their annual payment schedule, which displays the disbarment date for all programs and months, reflects this concept. However, it is better to understand the SSA’s scheduling principles to fully realize what they have planned for this New Year’s Eve.
The programs you are enrolled in, when you began receiving benefits, and your birthdate affect how much the SSA pays you. Every one of these factors complements the way the Social Security Administration divides up its population.
First, using May 1997 as a limit date, SSA divides beneficiaries into two groups based on the start date of benefits. Before this date, the group will get their money on the first of the month (regardless of the program they participate in). Another condition then affects the group. By their program, in this instance.
On the first day of each month, all Supplemental Security Income (SSI) recipients will get their Social Security checks. Lastly, by using the intervals of their birth dates and making payments in a different week of the month, the remaining group—which is made up of Old Age, Survivors, and Disability Insurance (OASDI) members—is further divided into three parties according to the Social Security payment schedule:
| Beneficiary’s Birth Date Interval | Payment Date |
| 1st to 10th | Second Wednesday |
| 11th to 20th | Third Wednesday |
| 21st to 31st | Fourth Wednesday. |
Who is going to receive the $947 payment from Social Security?
Only SSI beneficiaries are eligible to receive this $947 Social Security payment. If they are expected to receive their share on the first day of the month, you could wonder why they will get it. It’s straightforward. If SSA’s payments fall on a weekend or holiday, they are rescheduled. In this instance, the $947 scheduled for December 31st equates to the January 2021 payment.
What can you do to get that money even if you are not currently a member of Social Security?
SSA is obvious regarding what you need to fulfill to be a member of the SSI program. However, they have been progressively changing their requirements to make it easier for people to apply and be eligible. The general prerequisites are:
- Being 65 years old or older or being disabled (this applies both to adults and children).
- Having less than $2,000 if applying as an individual or $3,000 if it is done as a couple.
- You must earn less than $1,971 as an individual or not more than $2,915 if you are applying as a couple.
It is important to consider that there are other benefits that you may have, such as other government aid or help from people, that could be counted towards your living costs because they could also increase your total earnings and reduce your benefits or prevent you from enrolling in the program.
Where does the $947 amount in your Social Security come from?
Should you be aware of SSI benefits or get them, you will find that the average SSI Social Security Check for one individual is $943. Because their payouts will also be subject to the COLA, cost-of- living adjustment, SSI recipients will get more compensation. Remember; the COLA in 2025 will be 2.5%. The fresh total is thus $947.
