The best week for Americans who rely on Social Security or Supplemental Security Income will be the last one in February. In fact, there are about 7.5 million recipients of the SSI program, so it means millions of citizens will get a new payment on February 28.
If you do not qualify for SSI, you may be receiving retirement benefits from Social Security. Of course, you must meet all the conditions SSA set before you can get the money in your bank account.
Who Will Receive Social Security on February 26? Eligibility and Payment Details
This payment will be for those retirees who did not qualify for any of the previous payments in February. That implies they:
- are not receiving SSI benefits
- began receiving Social Security after April 30, 1997
- were born from the 21st to the 31st
- still remains eligible and have not broken SSA rules
Those who are on SSI and Social Security at the same time receive their retirement benefit payment on March 3, 2025. Since February only has 28 days, the retirement check or direct deposit will arrive 2 days before other months with 30 days.
February Social Security and SSI Payments: Maximum and Average Benefit Amounts
The lowest payments will be for recipients of the Supplemental Security Income program. Especially, if they are an essential person. Their maximum benefit is just $484, up from $472.
Individuals on SSI can receive up to $967 and eligible married couples up to $1,450. Those who qualify for the Social Security payment on February 26 will get up to $5,108.
On average, retirees get about $1,976 as of January 2025. Those who filed at 62 and your worked for ten years, that implies they had 40 work credits only, can get lower-than-average payments in the United States. If so, apply for SSI and SNAP benefits.
SSI, SNAP, and Social Security are compatible and they could help you make ends meet. Of course, as long as you meet all the requirements that have been established for these Federal payments.
What are the main differences between Social Security and SSI benefits?
Basis for Qualification
Social Security
- Eligibility: Based on your work history (or that of your spouse or parent) through earning work credits.
- Calculation: Benefit amounts are determined by your average lifetime earnings and the Social Security taxes you paid.
SSI
- Eligibility: Based on financial need. Applicants must have limited income and resources regardless of work history.
- Calculation: Benefit amounts follow Federal and State laws. Adjustments happen for living arrangements and other income.
2. Funding Sources
Social Security
- Financed by contributions from employees, employers, and self-employed individuals through payroll taxes (FICA).
- The taxes collected are deposited into dedicated Social Security trust funds.
SSI
- Funded through general tax revenues (not through Social Security trust funds).
Type of Benefits and Additional Support
Social Security
- Provides multiple types of benefits such as retirement, disability, survivor, and spousal benefits.
- Generally unaffected by changes in living arrangements.
- Automatically provides eligibility for Medicare (health insurance for beneficiaries).
SSI
- Provides basic financial assistance to cover essential needs like food, clothing, and shelter.
- You must report any changes in income, living situations, or resources. These can change your benefit amounts.
- Typically, SSI recipients qualify for Medicaid (or state-specific medical assistance programs).
Impact of Income and Resources
Social Security
- Other income typically doesn’t change your Social Security benefits. However, work-related earnings can sometimes lower those benefits.
- No income or resource limits are imposed since the benefits are earned.
SSI
- Benefits are directly affected by any other income or changes in living arrangements. Recipients must report all income, as it may reduce the monthly SSI payment.
- There are strict limits on both income and resources for eligibility.