The Social Security Administration (SSA) has announced significant increases in payments to retirees and Supplemental Security Income (SSI) recipients in the United States. The adjustments reflect a cost of living update and are intended to provide financial relief to those in vulnerable situations.
Retirees could begin receiving their payments on December 18 or 24, 2024, or on later dates such as January 3 or 8, 2025. Those who are eligible for the January 3 payment and have low incomes can also, receive additional SSI benefits. It is relevant to note that, if a beneficiary qualifies to receive SSI on December 31, 2024, their Social Security check will be issued on the 3rd of the following month.
The SSI are the first benefits to increase due to the 2025 COLA
This cost of living adjustment (COLA) has resulted in a 2.5% increase in payments for retirees and SSI beneficiaries compared to the previous year. The first to benefit from this increase will be those who receive Supplemental Security Income. This adjustment seeks to soften the impact of inflation and increase the purchasing power of a population that generally faces financial challenges.
The maximum amount an SSI beneficiary can receive after the adjustment will be $967. For eligible married couples, the limit will be $1,450. However, it is important to consider that retirees may not be eligible for the full amount if they also receive other Social Security payments, which may result in a reduction.
Average bonuses and access to information SSI payments
The average SSI payment for people age 65 and older is around $575, which, after adjustment, could rise to about $589. This represents an estimated increase of $24 per month, relevant for those who depend on this income.
Retirees have the option to check their adjusted payment amounts through the Social Security My Account portal. This platform allows them to access updated information about their benefits, which is useful if they have not received direct notification about the new amounts.
Application process for SSI in 2025
Retirees who find themselves in need of additional income and receive low retirement benefits may consider applying for SSI. To access this support, applicants must meet certain requirements: have a limited income, have few resources and have one of the following conditions: disability, blindness, or be over 65 years of age.
The main eligibility criteria for receiving SSI benefits include:
- Age: Be over 65 years old.
- Income Limits: Monthly income must not exceed a specific threshold; Generally, up to $1,971 may qualify. Income from other pensions and benefits is taken into account.
- Limited resources: For individuals, the total value of assets must be less than $2,000, and for couples, less than $3,000. Some property, such as a primary residence and vehicles, is not counted against this limit.
- Citizenship: The applicant must be a US citizen or a qualified foreigner, who in the case of refugees or asylees may also qualify for these benefits.
- Residency: You must reside in one of the 50 states, Washington D.C., or the Northern Mariana Islands.
The SSI application can be handled through an appointment at a local Social Security office or through an online process. Interested parties must visit the official website and gather the necessary documentation to prove their eligibility.
What specific documentation is required to apply for SSI benefits online?
Proof of Age
- Birth certificate, religious birth record, or other document showing your age or birth date
- If you already proved your age when applying for Social Security, you don’t need to prove it again for SSI
Proof of Citizenship or Legal Residency
- Birth certificate, naturalization certificate, U.S. passport, or certificate of citizenship (for citizens)
- Current immigration document like permanent resident card or arrival/departure record (for noncitizens)
Proof of Income
- Pay stubs or tax return if self-employed (for earned income)
- Award letters, bank statements, court orders, receipts showing payment amounts, frequency, and sources (for unearned income)
Proof of Resources
- Bank statements for checking/savings accounts
- Deeds, tax appraisal statements for property owned besides your home
- Life/disability insurance policies
- Burial contracts/plots
- Certificates of deposit, stocks, mutual funds, bonds
- Vehicle titles/registrations
Proof of Living Arrangements
- Lease, rent receipt
- Names, birth dates, Social Security numbers of household members
- Property deed or tax bill
- Household costs for rent, mortgage, food, utilities
Medical Sources (if filing as blind or disabled)
- Doctor/hospital names, addresses, phone numbers, treatment dates
- Prescription and non-prescription medication names
- Medical reports, if available
Work History (if filing as disabled)
- Job titles, business types, employer names, work dates
- Hours and days worked per week, pay rates for last 15 years of work
- Description of job duties