For this month, some citizens of the United States will receive two Social Security payments a situation that is somewhat strange, this is the result of a peculiarity of the system, regularly, the Social Security Administration (SSA) sends only one Supplemental Security Income (SSI) payment monthly and makes the delivery of the checks on the first day of the month, unless the first day of the month is a weekend or a holiday.
Since June 1 falls on a Saturday, SSI beneficiary citizens will receive two payments in the same month of May, it is predicted that the first check will arrive on May 1, and that the second check, which corresponds to the month of June, will arrive on May 31, SSI benefits provides assistance to people with disabilities and U.S. citizens, seniors and limited resources, consecutive deposits does not mean that retirees will be receiving extra money, only that a payment will be advanced to them, referring to the following month.
The Social Security Payment Coming This Week
It is expected that this phenomenon of Social Security payment advance will occur at least a couple more times this 2024, in the month of August and the month of September, as shown in the payment calendar on the website of the Social Security Administration.
The next payment that will be made corresponding to the month of May will be next Wednesday 8th, as it is already customary for Social Security payments to be made on Wednesdays, of the month correspondingly.
The beneficiaries who receive payment on this day will be those who have birthdays between the 1st and the 10th of the month.
There has been talk of an increase in the payment of retirees, they received a modest increase, for the cost of living item this year, but many have expressed that they have difficulties to meet their expenses and get ahead while they are in a continuous struggle against high inflation that has quickly damaged their purchasing power.
In a recent survey published by Atticus, it was revealed that an overwhelming percentage of seniors who collect Social Security (approximately 62%) are dissatisfied with the 3.2% payment increase they are receiving in 2024.
In fact, almost three out of five seniors made a report for having financial difficulties, since the cost of basic necessities such as food, rent and medical care remains significantly high, while about 20% of seniors who receive Social Security have outsourced looking for a job this year due to the small increase.
Retired people expressed their concerns and concern about the increases in costs in utilities, insurance, heating and food.
More than 66 million U.S. citizens who receive Social Security collected higher payments starting in January.
The increase in payments pointed to a sharp drop since 2023, when beneficiaries received a significant increase of 8.7%, the highest in four decades, however, it is still higher than the average increase of 2.6% recorded in the last two decades.
An increase of this size increased the average retired citizen’s benefit of $1,907 by about $59 a month.
In the annual change of the Social Security, the calculation is made based on the consumer price index for urban wage earners and administrative workers, or the CPI-W, for July, August and September.