The maximum amount of Federal Supplemental Security Income (SSI) payments goes up when the cost of living goes up for Social Security benefits. The most recent rise of this kind will start in January 2024 and is 3.2%.
SSI amounts for 2024
Eligible individuals will get a monthly maximum of $943 in 2024, individuals who are eligible and have a qualified spouse will get a monthly maximum of $1,415, and essential persons will receive a monthly maximum of $472.
In general, monthly amounts for the next year are determined by increasing the unrounded annual amounts for the current year by the COLA starting in January of the next year. The new unrounded amounts are then each split by 12 and the resulting amounts are rounded down to the next lower multiple of $1.
| Recipient | Unrounded annual amounts for— | Monthly amounts for 2024 | |
|---|---|---|---|
| 2023 | 2024Â a | ||
| Eligible individual | $10,970.44 | $11,321.49 | $943 |
| Eligible couple | 16,453.84 | 16,980.36 | 1,415 |
| Essential person | 5,497.80 | 5,673.73 | 472 |
| aThe unrounded amounts for 2024 are the same as the unrounded amounts for 2023, but they are 3.2% higher. | |||
Payment reduction
#BREAKING! More than 71 million Americans will get a 3.2% increase in monthly #SocialSecurity benefits and #SSI payments in 2024. Check our blog for more information: https://t.co/2RWlgZ3CVz #COLA #2024COLA pic.twitter.com/y7F19zqFWz
— Social Security (@SocialSecurity) October 12, 2023
Countable monthly income is subtracted from the monthly amount. If a person is eligible and their partner is also eligible, the amount that needs to be paid is split evenly between the two spouses. Some states add to the perks of SSI.
Read more:
- Social Security Early Payment to Go Out This Week
- Major Changes Coming to Social Security in 2025: Benefit Increases and More
The $600 increase for Social Security, SSI, and SSDI beneficiaries is part of the 2024 Cost of Living Adjustment (COLA). Here are the key details:
Social Security Recipients:
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- COLA Increase: The COLA for 2024 is 3.2%.
- Effective Date: Social Security recipients will see the higher amounts in their January benefit checks.
- Average Benefit Increase: The average benefit check will rise by $49, reaching $1,907 from the previous year’s $1,858.
SSI Recipients
- Payment Start Date: The benefits hike for the nation’s 7.5 million SSI recipients will begin on December 29, 2023.
- January Payments: Typically, SSI payments are issued on the first of each month, but due to the New Year holiday, recipients will receive their payments on the Friday before January 1.
- Combined Recipients: If you started claiming Social Security before May 1997 or receive both Social Security and SSI benefits, you’ll get the new COLA in a December 29, 2023 check and your Social Security payment on January 3, 2024.
How can I check my Social Security benefit amount?
To check your Social Security benefit amount, you have a few options:
Online Statement (my Social Security account):
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- Create an Account: Open my Social Security account on the official SSA website.
- View Your Statement: Once logged in, navigate to your earnings history. Your Statement will display personalized retirement benefit estimates at different ages, along with your earnings history and instructions for reporting errors.
- Annual Review: It’s a good idea to review your Statement annually.
Visit a Social Security Office:
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- You can visit a local Social Security office to get an estimate in person.
Use Online Calculators:
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- The official Social Security website provides calculators to estimate your benefits based on your earnings history.
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