There is a lot of confusion about Supplemental Security Income, also known as SSI. Is it Social Security? Is it disability? Or something else entirely?
While SSI is managed by the Social Security Administration, it is not actually a Social Security program. In other words, SSI benefits are not funded with Social Security taxes like other Social Security programs are.
SSI is basically welfare. It is a need based program that pays benefits to people who have low income and who are 65 or older or who are blind or disabled.
People who receive SSI benefits may or may not qualify for Social Security benefits, depending on their work history and whether they have paid into the Social Security system or not.
The SSI Federal benefit for 2010 and 2011 was $674/mo for individuals and $1011/mo for couples. The basic SSI benefit is the same for everyone nationwide; however, many states have their own benefits in addition to the federal benefit, so you should contact the SSA to find out how much you are eligible for.
To see who is eligible for SSI, please read SSI Income Limits: How Much Can You Earn and Still Qualify for SSI?
Video: When to Take Social Security
When to take Social Security and other questions to ask before retiring…
You may also like:
No Increase In Social Security Benefits for Retirees Next Year
Should Congress Raise the Retirement Age for Social Security?
What You Don’t Know About Social Security Spousal Benefits Can Hurt You
Medicare Open Enrollment Starts Today (October 15)
Social Security Trust Fund to Run Out of Money as Early as 2033?
Leave a Reply