SOME Americans are set to see a huge $1,450 boost to their monthly payments as a change is set to come into effect in hours.
Supplemental Security Income payments are due to change in January 2025.
SSI provides monthly payments to people with disabilities and older adults with little or no income.
The maximum annual amount certain people can get will increase from January 2025.
This latest increase will be set at 2.5%.
SSI payment recipients are broken down into three groups of people.
Firstly, eligible people can claim as individuals.
These claimants could get a maximum annual amount of $11,321.49 in 2024.
This sum will increase by $283.04 in 2025.
Therefore, individual claimants will be sent up to $967 each month.
Eligible individuals in a married couple will benefit the most from the 2025 changes as they will soon be able to pocket a maximum of $1,450 each month.
The cap for these claimants was $16,980.36 in 2024 but this has increased $17,404.87.
The SSI cap will also go up for an essential person.
This means they could claim up to $5,815.57 in 2025 and this is a jump from the $5,673.73 maximum in 2024.
Therefore, these people will get up to $484 each month next year.
CASH BOOST
These cash increases are part of Social Security’s annual cost of living adjustment.
The Social Security Administration said the increase could benefit 72.5 million Americans.
These payments can help recipients cope with rising inflation.
Some people could even see this new amount reflected in payments as soon as December 31.
GettyThe caps on Supplemental Security Income payments are set to increase[/caption] Read More Details
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