Supplemental Safety Earnings, or SSI, is a crucial program administered by the Social Safety Administration that gives modest money help to individuals who can now not work sufficient to fulfill their fundamental wants, as a result of age, incapacity or each.
SSI retains folks out of deep poverty, prevents homelessness, and supplies some stability for many who would in any other case have little to no earnings. SSI may help folks experiencing homelessness get and keep housed, and allow low-income folks to cowl hire, utilities, property taxes, meals, and different fundamentals.
SSI by the Numbers
- 7.4 million folks obtain SSI
- 2.5 million are older adults, a lot of whom earned low wages all through their lives and wish SSI to complement meager Social Safety advantages.
- 63% of the older adults receiving SSI are ladies as a result of ladies reside longer, usually tend to have labored half time low-wage jobs or spend day out of the workforce caring for households, jeopardizing their future monetary safety.
- The common month-to-month profit for older adults is simply $575 a month, far beneath the federal poverty line and much from what folks have to reside on, however the individuals who depend on it don’t have any different choices.
Outdated SSI Guidelines Maintain Individuals in Poverty
Many SSI guidelines haven’t been up to date in over 40 years and make life almost inconceivable for individuals who depend on it.
- The Financial savings Penalty means folks lose advantages in the event that they save greater than $2,000 ($3,000 for a pair) for emergencies like a medical invoice, automobile restore, or dwelling modification.
- The Marriage Penalty means a married couple receives virtually $500 lower than they’d as two single recipients.
- Earnings guidelines require that people receiving greater than $20 a month from sources apart from work, together with Social Safety retirement advantages, require a dollar-for-dollar discount in SSI advantages.
- Work Penalties imply that incomes greater than $65 a month decreases advantages, discouraging work for many who can.
Frequent Sense Updates to Replicate At present’s Economic system
- Increase the asset restrict to $10,000 for a person and $20,000 for a pair and cease penalizing folks for saving.
- Finish the wedding penalty so folks don’t have to decide on between marriage and monetary stability.
- Increase the earnings restrict so folks can work and obtain Social Safety with out hurting their funds.
- Improve advantages to 100% of the federal poverty degree.
