How Much Is The State Pension Fund In SA?

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The current South African pension rates for the South African Social Security Agency (SASSA) grant are a maximum of R1 700 per month or R1 720 for those aged over 75.  

A state pension fund can be paid to you when you’re termed as an older person. For people who are 60 years or older. They can get a grant to see them through their old age. SASSA pays the grant to its beneficiaries through cash at a specific pay point on a particular day. 

To qualify you should  

  • Be a South African citizen or permanent resident that lives in South Africa. 
  • You shouldn’t receive any other social grant for yourself. 
  • Nor should you be cared for in a state institution. 
  • Or earn more than R78 120 if you’re single or R156 240 if married. 
  • Not have assets worth more than R1 115 400 if you’re single or R2 230 800 if you’re married.

To obtain the money SASSA will pay the grant to you through one of the following methods: 

  • Cash at a specific pay point on a particular day.
  • Electronic deposit into your bank or Postbank account. The bank may charge you for the service. 
  • Specific institutions such as an old age home.

If you are unable to collect the money yourself, you can appoint a procurator at the SASSA office, or give someone power of attorney to collect the grant on your behalf. 

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