Could government raise savings limit for SSI recipients?

People in Oregon who receive Supplemental Security Income certainly don’t have it easy when it comes to finances. People who receive SSI benefits do so because they can’t realistically afford not to receive them. As it stands, most people who are on SSI can’t have more than $2,000 to their names. This makes it very difficult to save — in fact, it just about guarantees that people in this situation will have to live check to check.

There are movements afoot to raise these limits, however. The National Council on Disability is lobbying officials to raise that $2,000 figure to $10,000 — a more realistic number for people who may have to endure cuts to the SSI system in the coming years.

With the $2,000 limit, people who might like to work a little bit — if they are able — are scarcely able to do so without exceeding the limit. This amount hasn’t been adjusted since 1989, meaning budgets are likely tightening all the time for SSI beneficiaries.

As the president of the National Council on Disability points out, SSI recipients are already disproportionaltely likely to suffer from poverty compared with other Social Security beneficiaries; a limit as low as $2,000 makes it difficult for these people to emerge from that poverty.

The council is also asking the government to change the way it calculates SSI benefits when a recipient earns money from a job. Observers say that the sequester and other budget cuts make it essential that reforms are made to the SSI program sooner rather than later.

Source: Disability Scoop, “White House Urged To Raise SSI Limits,” Michelle Diament, April 19, 2013

By |2019-02-08T20:51:53+00:00May 2nd, 2013|SSI Supplemental Security Income|0 Comments