Social Security update: Direct payment worth $914 arriving in 12 days

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Social Security update: Direct payment worth $914 arriving in 12 days
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Supplemental Security Income beneficiaries will receive their May payment, worth $914 for individual filers, in 12 days.

Supplemental Security Income beneficiaries will receive their May payment, worth $914 for individual filers, in 12 days.

The monthly payments will contain different amounts for individual filers, joint filers, and essential persons. The checks will arrive on May 1.Eligible couples will receive $1,371, and essential persons, meaning those who live with someone receiving SSI payments and provide them with necessary care, will get $458. Individual filers receive $914.

The payments are delivered to beneficiaries on the first day of each month, but when the first of a month falls on a weekend or a holiday, the Social Security Administration issues its monthly SSI checks on the last business day prior to the month. This ensures recipients have the check by the first of the month, according to the agency.

With the adjusted schedule, recipients get two checks in the same calendar month multiple times a year. However, beneficiaries still receive a total of 12 checks per year.There are four months in which two payments will be delivered under the same month this year: March, June, September, and December. This is because the first of the month falls on a weekend in April, July, and October, and the first of January is always a holiday.

SSI payments were first issued by the Social Security Administration in January 1974, and payment rates have increased for cost-of-living adjustments since 1975, according to the agency.

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