How Much Money Can I Have And Still Get The Aged Pension In South Africa

How Much Money Can I Have And Still Get The Aged Pension In South Africa

As South Africa’s population ages, the need for financial backing for elderly citizens becomes increasingly vital. The Old Age Grant, which is commonly known as the aged pension, serves as an important safety net for individuals between the ages of 60 years and above, helping them to maintain a basic standard of living. Nevertheless, being conscious of the qualification can be complex regarding the financial limits on income and assets.

This post will explore how much you can have and still qualify for the aged pension amount, highlighting the means test conducted by SASSA.

 Eligibility Criteria For The Aged Pension In South Africa

To be eligible you must;

• Be a South African citizen, permanent citizen dweller, or a fugitive
• Be settled in South Africa
• Must not receive any other social grant for yourself
• You must not be cared for in a state institution
• You must not earn more than R86 260 if you are single or R172 560 if married
• You must not have assets worth more than 1227 600 if you are single or R2 455 200 if you are married

READ ALSO: How do I contact GEPF about my pension?

When Does The Grant Expires

The grant will expire due to the following;

• When the aged passes away
• Admitted to a state institution
• Do not claim for three consecutive months
• Are absent from the country

How Much Time Does It Take To Get Your Aged Pension In South Africa

• It may take up to three months to process your application
• If your grant is approved, you will be paid from the date on which you applied

Contact Details

If you wish to talk to a representative of GEPF. You can contact them at;

Tel: +27 80 011 7669

Fax:+27 12 326 2507

Visit the official website for more inquiries and updates