Why an Extra Social Security Payment Will Come in September

A number of instances a 12 months, recipients of Supplemental Safety Earnings (SSI) obtain two funds in a month. However these double deposits aren’t extra cash. They’re early funds for the next month.

In September, individuals who obtain SSI advantages will get a second test earlier than the calendar rolls into October. Right here’s what you might want to learn about that second fee.

The Social Safety Administration (SSA) often points SSI funds on the primary day of every month. But when that date is on a weekend, the company pays you forward of schedule — on the final enterprise day of the previous month^[0]

This schedule ensures these depending on SSI have the cash they want by the primary day of the month.

The second SSI fee just isn’t an additional fee. It’s the following month’s fee hitting your account a number of days early.

Your SSI fee for September will likely be accessible on Sept. 1, and the second fee will hit your account on Sept. 29. As a result of the second fee is for the month of October, the following SSI fee will likely be Nov. 1^[0]

You’ll be able to plan forward for December of this 12 months when one other double fee will likely be issued — the primary on Dec. 1 and the second on Dec. 29.

SSI funds are issued one among two methods. For beneficiaries with financial institution accounts, the funds come as direct deposits. For these with out financial institution accounts or those that want a extra tangible technique, funds are added to beneficiaries’ accounts with Direct Specific playing cards. The second fee in September will likely be paid with whichever technique you’ve signed up for^[0]