If you are inquisitive about the latest developments regarding South Africa’s old age grant. Then you can stay here for information on SASSA Old Age Grant Increase 2024: How Much Old Age Grant Will Increase? and All We Know.
SASSA Old Age Grant Increase 2024
Because many older South Africans continue to struggle financially, the Sassa old-age grant was raised from 2023 to 2024. At the presentation of the budget for the fiscal year 2023–2024, Finance Minister Enoch Godongwana announced that social assistance would increase by nearly 5%.
It was projected that 17.5 million recipients would receive old age and child assistance grants in 2023–2024. Furthermore, the Finance minister mentioned that during the next three years, the state anticipates an increase in the number of recipients of Old Age Grants.
|
Important Links |
More information related to SASSA Old Age Grant Increase 2024 shall we discussed in this article so please keep scrolling down.
SASSA Old Age Grant
The Old Age Grants program provides financial assistance to South African citizens who are 60 years of age or older. You will receive up to R 2,090 each month at most. You’ll receive R2 110 if you’re older than 75.
You must be a citizen of South Africa, a permanent resident, or a refugee in order to get the benefits of this grant. You also cannot be the recipient of any other social grant. It is also a requirement that your assets cannot exceed R2 455 200 for married individuals or R 2 227 600 for single individuals.
If you lie or conduct fraud, or if you don’t participate when your grant is being examined, it could be suspended when your circumstances change. The Old Age Grant was raised from R390 in 1994 to R2,090 in 2023.
SASSA Old Age Grant Overview
| Article | SASSA Old Age Grant Increase 2024 |
| Provided By | Republic of South Africa |
| Administered by | South African Social Security Agency |
| SASSA Old Age Grant Eligible Age | 60+ |
| Old age Grant amount 2022 | R1,985 |
| Old age Grant amount 2023 | R2,090 |
| SASSA Online Portal | https://www.gov.za/services/social-benefits-retirement-and-old-age/old-age-pension |
How Much Old Age Grant Will Increase?
As a result of the ministers’ declaration, the total amount awarded to grant recipients will be more than what was given to them during this fiscal year. The old age pension payout from SASSA for 2023–2024 is split into two portions according to the age of the beneficiary.
As of October 1, 2023, the Old Age Grant provides R2,090 to older recipients (60 to 74 years old), which is an increase from the previous value of R2,080. The SASSA Older Person Grant, which was formerly awarded R2,100, will now pay R2,110 to seniors 75 years of age and above as of October 1, 2023.
Additionally, Minister Godongwana disclosed that the government will be boosting grant expenditures as a result of the growing number of grant recipients in South Africa.
SASSA Old Age Grant Payment Mode
Payment will be made to you from the date of your application if your grant application is accepted. The grant is offered by SASSA in a number of ways. Some examples of these are cash paid at a certain pay point on a prearranged day, electronic deposits made into your bank or Postbank account (though the bank might charge for this service), and establishments like assisted living facilities.
|
Important Links |
Should you be incapable of obtaining the funds on your own, you have the option to designate a procurator at the SASSA office or give someone authority to collect the award on your behalf. The income you reported on your application may influence SASSA’s decision to review your grant. The review or the deadline for it will be communicated to you three months beforehand.
Final Words
During the Medium Term Expenditure Framework (MTEF), Social Development is expected to receive approximately R1.1 trillion, according to the finance minister’s announcement. By March 2026, there would be 19.6 million grant recipients in South Africa, up from 18.6 million in March 2023, according to government estimates. As a result, in 2025, the government will need to increase its grant spending by more than R10 billion.
Recipients must be aware that SASSA examines and modifies grant amounts on a regular basis to guarantee that they receive adequate support. Please visit the https://www.gov.za/ to remain up to speed on the latest information and any impending adjustments to SASSA award disbursements.
We are extremely appreciative of the fact that you have chosen our portal to read on SASSA Old age grant increase 2024.