Those applying for a SASSA Old-Age Pension in 2024 should realise the following list of requirements from the South African Social Security Agency. The Older Persons Grant, as it has become known, is the single largest government endowment.
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Of South Africa’s R21-trillion national budget, roughly R232 billion of that goes towards social grants. And the biggest portion will be spent on SASSA Old-Age Pension in 2024. Just as it was 30-years ago, back in 1994 and our fledgling democracy, old-age grants are the most plentiful and, therefore, the most important for the needy in South Africa.
SASSA OLD-AGE PENSION IN 2024
According to the SA Government website, when applying for the SASSA Old-Age Pension in 2024, application forms are not available online, you have to report to a SASSA branch in-person. Follow the link HERE to find a branch nearest to you in South Africa. Of course, you must be 60-years of age or older.
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For more information on all SASSA payment dates click HERE. And to confirm how much SASSA grants will payout in 2024 after the latest increases, click HERE.
DOCUMENTS FOR A PENSION APPLICATION
- Your 13-digit bar-coded identity document (ID) (a SASSA staff member must assist you with format documents for an ID application if you don’t have a valid ID document).
- Proof of your marital status.
- Bring along Proof of residence.
- Papers confirming your proof of income and/or dividend (continue reading to see the threshold you cannot exceed).
- Information regarding all your assets, including the value of the property you own (there is a limit to how many assets you can have, read below for more).
- You must declare any private pension you’re receiving (if applicable).
- Three months’ bank statements certified by your bank.
- Unemployment Insurance Fund (UIF) membership ‘blue book’ or discharge certificate from your previous employer.
- Copy of the will and first and final liquidation and distribution accounts if you were married but your spouse has passed away in the last five years.
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THIRD-PARTY ASSISTANCE
If you are too old or sick to travel, a family member or friend can apply on your behalf. The person must take a letter from you and/or a doctor’s note explaining why you cannot visit the office. All of the above documentation must be certified by a commissioner of oaths before application forms can be completed in the presence of a SASSA officer.
INCOME DECLARATION
The South African Social Security Agency needs to confirm whether you qualify for a SASSA Old-Age Pension in 2024. If you’re single you must not earn more than R8 070 per month (R96 840 per year). If part of a married couple, your income cannot exceed R16 140 per month (R193 680 per year).
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The agency quantifies income as the following:
- If you receive money from a private pension.
- Money from any business or work.
- Financial help from friends or relatives (as reflected in bank statements).
- Earnings through renting out a portion of your house or a property you own.
- Maintenance payments for a child.
- Compensation from other government sources, like UIF, RAF or COIDA.
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ASSET THRESHOLD
SASSA Old-Age Pension in 2024 also requires an asset declaration because some may have access to generational wealth and/or other assets. For a single person this limit is R1 372 800. If married, the figure increases to R2 745 600.
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Assets include:
- Money in your or your spouse’s bank account.
- The value of property or land that you and/or your spouse possess (properties/land with an outstanding bond are considered to have ZERO value).
- The value of all investments owned by you or your spouse, like shares or any other type of investments (a retirement fund annuity is not considered an asset).
- Any outstanding debt, such as bonds and loans.
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Will you be applying for a SASSA Old-Age Pension in 2024? Do you need any clarity on the process? Be sure to share your thoughts with our audience in the comments section below. And don’t forget to follow us @TheSANews on X and The South African on Facebook for the latest updates.
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