Social Security update: Second of March’s double direct payments worth $914 arrives in 15 days

TThere are just 15 days left before Supplemental Security Income beneficiaries receive their second March double payment.

The first payment was sent to eligible recipients on March 1. However, the second payment will arrive on Friday, March 31. The April 1 payment will be replaced by the second round because April 1 falls on a Saturday this calendar year. For individual filers, each payment is $914. This means that recipients will receive $1,828 in total March payments.

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On the first day each month, the Social Security Administration issues one monthly SSI Check. However, if the first business day of a month falls on a weekend or holiday, then the administration releases the checks the following month. This ensures that recipients have enough money to pay their bills by the due date.

The double payment is also available to eligible couples who will receive two payments each of $1,371 March and essential people who live with a person who is receiving SSI. Two checks will be sent to essential people for $458 each.

The recipient receives two checks per calendar month, but receives a total 12 payments each year.

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This year, three other months will see two payments: June, September and December. Because the first month falls on a weekend between July and October, this is why you will see two payments. Because Jan. 1 is a National Holiday, December gets two checks per year.

The Social Security Administration issued the first SSI payments in January 1974. Since 1975, payment rates for cost-of living adjustments have increased each year, according to the agency.