Social Security beneficiaries will receive their $914 direct payments starting May 1.

Beginning this Monday, May 1, recipients of Supplemental Insurance Income will begin receiving their $914 direct payment, which will be distributed to individual, joint, and major taxpayers.

In this sense, the Social Security Administration (SSA) has explained that for for individual taxpayers, the amount will be $914.for joint taxpayers $1,371 and for general people they will receive $458.

In addition, the SSA indicated that Payments will be delivered on the first day of each month excluding days falling on weekends or holidays. In this case, the organization issues checks on the last business day of that month. This is to avoid putting beneficiaries at a financial disadvantage. and make sure they don’t expect payment after the first of the month, the agency said.

In January 1974, additional insurance income payments were made for the first time; however, in recent years due to cost-of-living adjustments, payment rates have increased. Starting from this year, The increase of this type was 8.7%, which entered into force in the first month of 2023.

Author: Arlenis Tabare
Source: La Opinion

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