Check to see if the new September Social Security statement will bring changes for retirees or disability benefit recipients
Social Security retirement, SSDI, and SSI payments may experience variations, either an increase or a decrease, depending on several factors. Among them are the current earnings of SSI recipients and the taxes workers have previously paid into Social Security (SSA). These variations reflect the adjustment the government makes to balance benefits with past contributions and beneficiaries’ current circumstances, ensuring that payments align with each individual’s needs and contributions.
As of September 2024, average payments for the month of August are expected to show positive changes. The good news is that, on average, beneficiaries are getting more money compared to what they received in July, representing a significant improvement in their income. This increase in payments brings financial relief to many people, especially those who depend on these benefits to cover their daily needs.
SSDI, SSI, and Social Security average retirement checks
Retirement benefits have averaged $1,920 for all retired workers, reflecting a slight increase over previous months. Spouses of these retired workers are getting, on average, about $909, while children of retirees are getting about $892. Although the increase is minimal, retirees have seen an average increase of $1 in their payments. While this seems like a small figure, it adds to the periodic adjustments Social Security makes to maintain financial stability for beneficiaries.
Compared to the retirement checks issued in January 2024, payments have increased by $13 from $1,907 in January to the current $1,920 after the Cost of Living Adjustment (COLA). This increase, while modest, is significant for many retirees who rely on these funds. However, in contrast to retirement benefits, SSDI payments are often considerably lower, leaving their beneficiaries with less on average.
SSDI beneficiaries, for example, got an average of $1,489 in December 2023, a figure that increased slightly to $1,539 in August 2024. Although these payments have seen an increase of just $2 over January, any increase is valuable to those who rely on this assistance. For their part, SSI recipients also saw a recent change in their checks, reaching an average of $698, although they had previously seen a reduction in their payments following the latest SSA adjustment.
Upcoming Social Security SSDI, SSI and Retirement Benefit Payment Dates
The Social Security Administration will continue to distribute monthly payments during September and October. Depending on each beneficiary’s situation, some will get average payments, while others may get a different amount. Key dates are listed below:
- SSDI/Social Security Retirement on September 18: For those whose birthday is between the 11th and 20th, do not get SSI or receive benefits prior to May 1997.
- SSDI/Social Security Retirement on September 25: For those with birthdays between 21 and 31, do not get SSI or pre-May 1997 benefits.
- SSI payments on October 1: All eligible beneficiaries will get their payment on this date, with no additional paydays.
- Social Security and Disability Insurance payments on October 3: For beneficiaries who get benefits prior to May 1997 or for those receiving Social Security.
To be eligible for Social Security retirement benefits, you must be at least age 62, have accumulated sufficient work credits, and file a formal application. SSI, on the other hand, is intended for low-income individuals, who generally get disability insurance or retirement benefits. SSDI, on the other hand, is intended for those with a disability that prevents them from working for more than one year and who have contributed enough taxes to Social Security.
