How Much Is The Old Pension Grant Per Month

How Much Is The Old Pension Grant Per Month

The Old Pension Grant is a social assistance program provided by governments to assist elderly citizens who do not have sufficient income after retirement. The amount varies depending on the country and its policies. In many countries, such as South Africa, the Old Pension Grant is adjusted annually to keep up with inflation and the cost of living.

ALSO READ: Do GEPF members get a bonus?

How Much Is The Older Pension Grant

The amount of the grant changes every year. Currently, the maximum amount is R2 190 per month. If you’re older than 75 years, you’ll get R2 210. Any changes in the grant amounts are reflected yearly in the national budget speech or the opening of parliament.

Eligibility Criteria For The Older Pension Grant

• You must be a South African citizen, a permanent citizen dweller, or a fugitive
• You must settle in South Africa
• You must attain the age of 60 years or older
• You must not be living in a state institution
• You are not eligible to receive payment from another social grant
• Your spouse complies with the means test
• You must submit your identity document(ID)
• You must not earn more than R86 280 if you are single, or R 172 560 if married
• You must not have assets worth more than R1 227 600 if you are single, or R2 455 200 if you are married

How Long Does It Take For The Application To Be Processed

It may take up to 3 months to process your application

• If your grant is been approved you will be paid from the date on which you applied
• And if SASSA refuses your application a letter will be sent stating the reason why your application has been rejected and how you can appeal within 90 days of being alerted.

Being conscious of the grant’s value and significance helps to promote social welfare and ensure that older adults can live with dignity and security during their retirement age.

For more details visit the official website HERE