Social Security payments: First half of $1,652 direct payment to be sent in just 15 days

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Recipients of Supplemental Security Income will receive their first of two payments, amounting to a total of $1,652 for most recipients, in just 15 days.

The first payment of $841 to eligible individual recipients will be sent out Sept. 1, with the second payment of the month, also worth $841, being delivered Sept. 30, according to the Social Security Administration. September is the second of three months in the year in which eligible individuals receive two Supplemental Security Income payments, following an initial set of payments in April and a second set scheduled for December.

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Eligible couples will receive two payments of $1,261 next month for a total of $2,522, also on Sept. 1 and Sept. 30.

Essential persons will receive two payments of $421 in September, to be paid out on the same days. An essential person is considered someone who lives with an individual receiving Supplemental Security Income and provides them with necessary care.

Social Security payments are expected to increase next year to keep up with inflation. Analysts predict the cost-of-living adjustment for Social Security in 2023 may be 10.5% or more, which could move recipients into a higher tax bracket.

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Current estimates say Social Security insolvency will occur in 2034 unless acted upon by Congress.