Recipients of Supplemental Security Income are slated to receive their monthly $841 payment for November in just six days.
Recipients did not receive a check this month due to a scheduling quirk — Oct. 1 falling on a weekend — that gave them two paychecks in September. SSI payments are issued by the Social Security Administration on the first of each month, but when that day falls on a holiday or weekend, payments are issued on the last weekday before the first of the next month, according to the SSA.
Social Security payments are expected to increase next year to stay on pace with inflation, with some analysts predicting the cost-of-living adjustment for Social Security in 2023 may be 10.5% or more, which would move recipients of regular Social Security payments into higher tax brackets. However, Supplemental Security Income payments will increase by 8.7% and rise to $914 a month for individuals and $1,371 for eligible couples.
Some analysts estimate Social Security insolvency will occur as early as 2034 unless acted upon by Congress.