SASSA Old Age Grant October 2024: The South African govt runs a program SASSA to provide financial aid to older age people. The amount will be provided each month to the eligible people under the Old Age Grant of SASSA and it is hoped that in 2025, there will be an increment in the monthly amount. The govt will impose an increment of 5% in the monthly payment under the Old Age Grant.
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SASSA Old Age Grant 2024: Overview
- People whose age is more than 60 years fall into the eligibility list for the Old Age Grant of SASSA.
- The monthly pension is given for the purchase of food, and medicine, and to meet other needs.
- The payment under the Old Age Grant will be given each month.
- The purpose of the Old Age Grant is to provide the financial security of the old age people.
SASSA Old Age Grant 2024: Eligibility Criteria
- A person who has a permanent residency certificate from South Africa can apply for the Old Age Grant.
- The age of the person must be more than 60 years.
- The person must not receive any other grant if he wants to receive an Old Age Grant.
- The assets of a single person can not surpass the amount of R2,227,600.
- The assets of married couples must be below R2,455,200.
- Old Age Grant will cover the older people who belong to the low-income group people.
- If a person gets rich, he should inform the SASSA office.
SASSA Old Age Grant 2024: Increment in Benefit Amount
We have seen a small increment in the Old Age Grant of SASSA in the 2024-25 years. The govt is hoping to increase the 5% amount under the Old Age Grant. The below table will show the increment amount for different age groups of the Old Age Grant of SASSA.
- For Age Group of 60 years to 74 years, the amount in 2024 is R2,090, and it will be R2,110 in 2025
- For Age Group above 75 years, the amount in 2024 is R2,110, and it will be R2,130 in 2025
SASSA Old Age Grant: Payment Methods
The SASSA provides various payment options for the Old Age Grant which are listed below.
- The applicants can get the Old Age Grant amount into their bank account.
- You can obtain the Old Age Grant benefit per month in cash from the SASSA office or the Pay Points.
- The dates for the Old Age Grant Payment will be announced in advance, you must be aware of the date to collect the money.
- You can send a trustworthy person to collect the Old Age Grant payment on your behalf. This process needs to register the name of the procurator.
Rise in the Number of People Obtaining Social Assistance
- In March 2024, the number of people who are receiving social benefits was 18.6 million and the MTEF has forecasted the number will become 19.6 million in Mach 2026. Here MTEF is a Medium-Term Expenditure Framework.
- The South African govt has to manage the funds for these grants and also raise the amount under the grants to meet the basic needs of the people.
- The budget for the Grants is supposed to reach the number of R1.1 Trillion in 2025, 2026, & 2027.
- The govt is thinking of raising the amount for the Old Age Grant.
- People from the age group of 60 to 74 years will receive the amount of R2110 and the people who are above 74 years will receive the grant of R2130 from 2025.
- The people are advised to look at the official website of the SASSA for any updates related to the SASSA grants.
- The South African govt is working towards the policy-making process for these grants for the upcoming 3 years so that all of the eligible people will be able to meet their daily needs.