The Old Age Pension is federal aid for seniors struggling to support themselves. It is a monthly and continuous financial aid that all elderly people in the country can request.

Do you want to learn more about it? Then keep reading! We’ll explain everything you need in detail!

The third age should be a period of enjoyment of the experience and wisdom accumulated over the years of life.

However, many elderly people in our country still suffer from a lack of financial resources during this period. For this reason, some decide to renounce retirement and remain active in the labor market.

However, the idea is that they can enjoy their retirement without this type of concern. For this reason, the federal government has offered free financial assistance to seniors with financial difficulties.

Thus, all elderly people with a fixed residence in the country can count on a monthly subsidy to meet their basic needs. All you need to do is be over 60 and meet the income criteria.

The basic monthly subsidy is R1,980 indefinitely for seniors between 60 and 75 years of age. After age 75, the subsidy is readjusted, and payments increase to R2,000.

In 2018, the number of elderly people covered by this support already exceeded 3.6 million. That number represents 75% of the elderly population in South Africa, according to the website expatica.com.

Indeed, this financial aid is responsible for improving the quality of life of many elderly people and their families. However, this is only possible due to the particular characteristics of this aid.

Below, understand more about the structure of this aid knowing the important points of this project:

The Old Age Pension can be paid via electronic bank transfer. However, we know that not all seniors can use these technologies well. Therefore, it is possible to receive cash payments.

If the senior chooses this option, payments will be made at institutions such as nursing homes or federal payment points. The pension holder can also indicate the best day to receive the amount.

In case of limited mobility, it is possible to indicate someone you trust to receive payments in cash.

To do so, it is necessary to prove the difficulty of locomotion and present a document that qualifies the person legally responsible for recording the payments.

No one other than the legal representative can receive the money for you.

If you are over 60, you may be eligible for Old Age Pension. To find out about other eligibility criteria and the application process, visit the post below. Surely, this one can clear all your doubts!