MILLIONS of struggling Americans will receive up to $4,555 in direct payments this week.
Another set of Social Security benefits will be issued on February 22nd.
Payments go to Americans born between December 21St and 31St of month.
Social Security Administration officials have been paying in benefits throughout February.
Two earlier batches were shipped to Americans on February 8th and 15th.
On average, retirees receive a monthly benefit of $1,827, but the maximum monthly payment is $4,555.
The US Sun has revealed why it might be wise for some seniors to wait before starting to claim their Social Security benefits.
Social Security recipients have chosen to receive their benefits by direct deposit or upload them to a Direct Express Mastercard.
This is because benefits must be stored electronically under federal law.
Social Security Administration officials load benefits onto the card when they are due to be deposited.
These methods are believed to reduce the risk of fraud.
Retirees have seen their Social Security payments increase by an average of $140 amid record-breaking inflation.
In June 2022, inflation hit 9.1 percent – the highest level since 1981.
President Joe Biden said the number was “unacceptably high.”
The cost of living adjustment (COLA) rose to 8.7 percent in October last year – the biggest increase in more than four decades.
It’s helping Americans fight inflation, which has left many low-income earners struggling to buy essentials.
Millions of retirees could also see a second cash boost in just over a week.
This is because the additional security income payment for March will be sent out at the beginning of the next month.
Social Security and SSI are separate programs, but Americans can qualify for both.
About eight million Americans apply for SSI, and the program is designed to help adults and children with disabilities and low-income people.
Single applicants are paid $914 per month while couples are paid $1,371 per SSA.
The standard payment for individuals has increased by $73 this year from $841.
Applicants may receive more if they live in a state that tops up their monthly federal benefits.
Alaska, New York, North Carolina and Ohio are among the dozens of states offering a supplement.
However, SSI applicants in Arkansas, Mississippi, North Dakota and Tennessee will not be awarded.
The US Sun has announced the dates for beneficiaries to circle on their calendars as there are instances where two monthly SSI payments are sent.
https://www.the-sun.com/money/7441596/americans-direct-payments-bonus-good-fortune/ Less than 48 hours until Americans can claim $1,827 bonus and $4,555 direct payments – see if some luck is deserved