Social Security is an entitlement program, meaning workers pay into the program through Social Security taxes, while Supplemental Security Income is a needs-based program funded by general tax revenues.
If you’re expecting a Supplemental Security Income payment in August, don’t be surprised if it shows up early.
August payments will look a little different because the Social Security Administration is sending August SSI benefits on Friday, July 31 since Aug. 1 falls on a Saturday. Although the payment date is earlier, recipients are not receiving an extra check or seeing a change in payment amount.
Here’s what to know about the early payment, who qualifies for SSI and when Social Security benefits will come.
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What is the difference between Social Security and Supplemental Security Income?
Although both programs are administered by the Social Security Administration, they serve different groups of people with separate funding mechanisms.
Social Security is an entitlement program, meaning workers pay into the program through Social Security taxes. Eligibility and monthly benefit amounts are based on an individual’s work history and earnings.
Supplemental Security Income is a needs-based program funded by general tax revenues. It provides monthly payments to people with limited income and resources who are ages 65 and older, blind or have a qualifying disability.
Over 576,000 Texans receive supplemental security income payments, according to data from the Social Security Administration.
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When will I get my supplemental security income payment?
SSI benefits are typically paid on the first day of each month. When the first falls on a weekend, payments are issued on the Friday before.
This August’s SSI payment will be issued Friday, July 31, instead of Saturday, Aug. 1.
The maximum federal SSI payment amounts are:
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- $994 for an eligible individualy
- $1,491 for an eligible individual with an eligible spouse
- $498 for an essential person
Monthly SSI benefits were recently increased by 2.8% in January as part of a cost-of-living adjustment, according to the administration’s website.
When will I get my August Social Security payment?
People receiving Social Security benefits will follow the agency’s normal August payment schedule, which is categorized by birth date:
- Aug. 12: Birth dates from the first through the 10th of the month
- Aug. 19: Birth dates from the 11th through the 20th
- Aug. 26: Birth dates from the 21st through the 31st
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Recipients who began receiving benefits before May 1997 or who receive both Social Security and SSI may follow a different payment schedule.
What should I do if I didn’t receive my social security payment?
The Social Security Administration recommends contacting your bank or financial institution first, as there may have been a delay in posting a payment.
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Individuals are encouraged to wait three additional mailing days before contacting Social Security, according to the administration. More information can be found at the administration’s website, or at ssa.gov/faqs.