Social Security payment 2022
Recipients of the Additional Collateralized Income will receive a second payment this month in about three weeks.
According to the Social Security Administration, those who are eligible to receive their first $841 payment on September 1
Can expect a second payment of the same amount on September 30, which equates to a total of $1,682 for the month.
September is one of the three months this year where people will receive two SSI payments as the first day of the next month falls on a weekend.
The other two months are April and December with two periods.
The SSA schedule shows that eligible SSI recipients will receive 12 payments this year.
This year, eligible couples will receive two payments of $1,261 for the month of September.
Those in need, who live with a person who receives SSI and provides essential care, will receive two payments of $421 payable on the same day.
SSI is "designed to help the elderly, the blind, and the disabled, who have little or no income," and it "provides funds to meet the basic needs of food, clothing, and shelter.
According to Nexstar Media Wire, analysts expect Social Security benefits to increase in 2023 due to rising inflation rates.
However, some people will earn less than what they are getting now, as the increase in payments could put them in a higher tax bracket.
Without congressional action, Social Security fund reserves are expected to dry up by 2035, according to the Social Security Board of Trustees Annual Report 2022. "
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