How much money can you have in the bank before you can loose your pension 2023-2024

How much money can you have in the bank before you loose your pension 2023-2024

You can apply for a grant to help you get through your senior years. The older person’s award is available to anyone over 60. This benefit was formerly known as the old-age pension.

How can you tell whether you qualify?

Candidates must fulfill the following requirements:

1. It is necessary to be a citizen of South Africa, a refugee, or a permanent resident.

2. The petitioner and the child must both be citizens of South Africa.

3. Must be 60 years or older.

4. The applicant cannot be receiving any other social assistance.

5. The means test must be passed by both the candidate and his or her spouse.

6. The applicant cannot reside or receive care in a state facility.

7. The applicant must provide an identity document with a 13-digit barcode.

How much will you be paid?

You will be paid a maximum of R1 980 per month. If you are over the age of 75, you will receive R2 000.

How much money can you have in the bank before you loose your pension 2023-2024

How are you going to get paid?

One of the following methods is how the South African Social Security Agency (SASSA) will pay you for the grant:

Cash deposited into your bank or Postbank account electronically at a certain pay point on a specific day (the bank may charge you for the service) (e.g. old age home).
Note: If you are unable to collect the funds personally, you may designate a procurator or provide someone power of attorney to do so at the SASSA office.

What date will your grant be assessed?

SASSA will have the last say in the grant review. Your disclosed income as of the time you apply for the grant will be used to make this determination. The review date or the day on which a life certificate evidence that you are still alive is required will be announced three months in advance. If you receive your funds through a bank, an organization, or a procurator, you must submit a life certificate to the SASSA offices each year.

When is your grant revocable?

In the event of any of the following, your grant could be revoked:

1. if you refuse to comply when your grant is evaluated

2. when you conduct fraud or make false statements about yourself

3. or if there was an error when your grant was authorized.

Click here for additional details.

SOCIAL GRANTS

• Care Dependency Grant
  

• Child Support Grant
  

• Disability Grant
  

• Foster Child Grant

• Grant-In-Aid
  

• Older Persons Grant
  

• Social Relief of Distress
  

• War Veterans Grant

RELATED LINKS

• Sassa Online Application Grant 2022

• SRD Grant Online Application Types

• SRD grant Online application

• sassa declaration form

• sassa Consent form

• Sassa Online Application Grant 2022

For more info on Sassa Online Application click here