SASSA old age pensioners
Did you know many major South African metros offer indigent benefits for old age pensioners to help reduce their bills? Here’s more … Image: SASSA

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Help offered to SA pensioners who struggle to survive

South African pensioners often live in a household of five or more and their monthly grant is the largest income therein.

By Ray Leathern
05-03-24 10:30
in Business and Finance
SASSA old age pensioners
Did you know many major South African metros offer indigent benefits for old age pensioners to help reduce their bills? Here’s more … Image: SASSA

Even though South African Social Security Agency grants are disbursed today, and will increase next month (April 2024), we’re still messaged regularly by South African old-age pensioners who are struggling to make ends meet each month.

According to a study on South African old-age pensioners (OAPs) by the Organisation of Economic Cooperation and Development (OECD), only one in four OAPs is sufficiently covered by the SASSA social security scheme. That means only 1 million out of the 4 million receiving government aid can comfortably make ends meet each month. Moreover, South African old-age pensioners often live in a household of five or more and their monthly grant is the largest income therein.

SOUTH AFRICAN OLD-AGE PENSIONERS

Infographic: Organisation of Economic Cooperation and Development (OECD)

Above is a breakdown of what South African old-age pensioners spend their money on each month. Food and monthly utilities (ever-increasing water and electricity) make up the largest portion (58%), followed by saving and debt repayment (15%). Critically, this leaves very little for any chronic medication and regular home maintenance. The latter means OAPs are living in a worsening state, which is bad for both physical and cognitive health.

According to Tafta, a Durban-based organisation that seeks to ease the plight of South African old-age pensioners, there is help at hand. Working closely with the elderly, it has published various ideas to help South African old-age pensioners make ease the burden each month.

MAKING ENDS MEET

SASSA old-age pensions don’t cover all necessary expenses, forcing the elderly to make alternative arrangements with friends and family. Image: File

Tafta says you should consider the following:

  • Renting out a spare room/outbuilding on your property to earn additional income.
  • Joining a stokvel of trusted friends and community to share expenses. If you pool your income, you’ll be able to afford more nutritious food and other necessities.
  • Consider reviving your career and imparting your skills to the community. Whether you were a teacher, baker, accountant, manager, journalist, seamstress, artist or sports person, you should consider giving lessons and earning extra money each month.
  • Youngsters have side hustles, why not South African old-age pensioners? Share your wealth of experience with the youth and start a small independent business. Not only will this bring in extra income but it will keep elders motivated in their later years.

Tafta, in collaboration with the Global Institute for Experienced Entrepreneurship (GIEE), runs a programme for elders who want to set up a small business. Sewing, carpentry, cooking, gardening, making jewellery, the possibilities are endless for over 60s.

ELIGIBILITY FOR SASSA

Forget the SASSA queues. Work for yourself and earn extra income in your later life. Image: File

Of course, to comply with the SASSA means test, your supplementary income cannot exceed R7 190 per month, and your total assets most be less than R1 227 600. For any South African Old-Age Pensioners interested in such an entrepreneurial programme, you can contact Tafta: info@tafta.org.za

ALSO READ: What if your SASSA status check fails?

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