Some Americans are set to see a huge $1,450 increase in their monthly payments as the change is set to take effect within hours.
Supplemental Security Income payments are scheduled to change in January 2025.
SSI provides monthly payments to people with disabilities and seniors with little or no income.
The maximum annual amount some people can receive will increase from January 2025.
This latest increase will be set at 2.5%.
Recipients of SSI payments are divided into three groups of people.
First, eligible people can claim as individuals.
These claimants could receive a maximum annual amount of $11,321.49 in 2024.
This amount will increase by $283.04 in 2025.
Therefore, up to $967 will be sent to each individual claimant per month.
Eligible individuals in a married couple will benefit most from the 2025 changes as they will soon be able to receive a maximum of $1,450 per month.
The maximum for these claimants was $16,980.36 in 2024 but this has increased by $17,404.87.
The SSI cap for the primary person will also rise.
This means they can claim up to $5,815.57 in 2025, a jump from the maximum of $5,673.73 in 2024.
Therefore, these people will receive up to $484 per month next year.
Cash payment
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 may see this new amount reflected in payments as soon as December 31st.
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