Social Security Extra Payment July: Is a $600 Boost Really Coming for SSI Beneficiaries?

Social Security Extra Payment July: Social media provides the ideal environment for the spread of rumours and fake news. While some are safe, others are not. Welfare programs like Supplemental Security Income (SSI) are among those that don’t hurt people but can cause a lot of uncertainty.

The Social Security Administration (SSA) has been rumoured to be raising the SSI payment by $600 beginning in July over the past few months. This rumour went viral, particularly on social media.

The alleged information created so much confusion that on June 3, the Social Security Administration received 463,000 calls—140,000 more than usual—from beneficiaries inquiring as to the veracity of the news. To the dismay of the recipients, the authorities responded quickly.

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Social Security Extra Payment July: Will SSI Benefits Increase This Month?

Martin O’Malley, the Commissioner of Social Security, quickly refuted the story. O’Malley said in a statement posted on the SSA’s social media accounts, “Any information regarding a current $600 increase is false and should be ignored.”

“Please be aware and don’t fall for this stunt,” he asked the recipients. We are tackling these fraudulent claims at their origin and warning the public about these lies.”

The Social Security Administration (SSA) reminded recipients that cost-of-living adjustments (COLAs) are announced in October of each year, and the corresponding increase is applied to recipients’ first payments of the subsequent year. Throughout the year, the SSA doesn’t make any more hikes.

August’s Double Payment

Social program participants may get two payments in a given month as a result of the SSA’s payment policy. The agency only deposits money on business days, which explains why.

Social Security Payments July: When will the payments arrive?

According to regulations, SSI payments are supposed to be made on the first of every month; however, if this day falls on a weekend or holiday, payments will be made on the preceding working day.

Approximately three times a year, this occurs. For instance, SSI recipients received their June payment on May 31st since June 1st fell on a Saturday, even though May 1st was a Wednesday. The winners will receive their payment on Friday, August 30th, in as September 1st falls on a Sunday.