The COLA or cost of living adjustment of 2023 will arrive in the last week of this year for all the recipients of SSI aka supplemental security Income.
The SSI recipients are going to get their first stimulus check payment with the COLA 2023 increasing by 8.7% in this week. This stimulus check payment is coming with another payment in the starting of this December.
So why will the beneficiaries of supplemental security income? Here are a few things you should know to understand that.
If you are unsure about how much bump you will be getting, you can check the message center of SS account where you may see a notice about the benefit amount. However, you need to create an account by 15th November’s deadline. Without that you will have to wait for a letter that will contain the details you are looking for.
First Ever COLA Increase Stimulus Check For The Beneficiaries Of SSI Can Come This Week:
People who are eligible for these payments are going to get their stimulus check payments in the first month of 2023. Here you can get your enhanced payments when you get the supplemental security income.
When disbursing monthly bills, the Administration for Social Security has a set timetable that it adheres to. Payments for SSI recipients are typically given out at the beginning of every month.
Your payments may not be received at the beginning of the month for one of 2 reasons: if a weekend or holiday comes on the regular payment day.
The beginning of the month in Jan 2023 is a holiday as well as a weekend. Whenever this occurs, the government mails the stimulus check payments ahead of time on the next working day, in this example a Friday. As a result, you will get the January 2023 stimulus check in Dec rather than January.