In July, the Social Security Administration is preparing to issue double payments to beneficiaries. Every month, recipients from programs like Supplemental Security Income (SSI) and Retirement, Survivor, and Disability Insurance (RSDI) receive payments ranging from $698 to $4,873. SSI payments will be issued on July 1st, while retirees, survivors, and disabled individuals will receive theirs on July 3rd.
What is Social Security?
Social Security provides monthly benefits to millions of Americans, funded through payroll deductions. These benefits cover basic needs like food and shelter. Any surplus funds go into the Social Security Trust Fund for future use.
Who Gets Double Payments?
Eligible beneficiaries of SSI and RSDI programs will receive double payments. SSI supports low-income seniors, disabled Americans, and some children, while RSDI provides retirement, survivor, and disability benefits based on age and work history.
Understanding the Programs
- Supplemental Security Income (SSI): Helps low-income seniors and disabled individuals with recurring assistance. Eligibility is based on income, resources, and demographics.
- Retirement Benefits: Amount varies based on retirement age; waiting increases benefits significantly.
- Disability Benefits: Available to those with long-term disabilities preventing work. Spouses and children may also qualify.
Payment Schedule
After the double payment, RSDI beneficiaries will receive staggered payments based on birth dates in July.
FAQs
Who qualifies for SSI?
Low-income seniors, disabled individuals, and some children.
How do retirement benefits vary?
Higher benefits for those who wait until full retirement age.
What are disability benefits based on?
Long-term disabilities and work history.