2024 Budget Speech: How much will the old age grant increase?
Social grants will increase from 1 April. Here’s how much the old age grant and children’s grant beneficiaries will not get monthly.
Good news! Social grants will increase from 1 April. Here’s how much the old age grant and children’s grant beneficiaries will not get monthly.
The increases were announced by Finance Minister Enoch Godongwana when he delivered the National Budget in Cape Town on Wednesday, 21 February.
OLD AGE AND CHILDREN’S GRANT TO INCREASE FROM 1 APRIL
During his speech, Godongwana said government is sensitive to the increase in the cost of living for the nearly 19 million South Africans
who rely on these grants to make ends meet.
“Work is currently underway to improve the COVID-19 Social Relief of Distress Grant by April this year. National Treasury will work with the Department of Social Development in ensuring that improvements in this grant are captured in the final regulations.
“These improvements will be within the current fiscal framework. For the extension of the grant beyond March 2025, the social security policy reforms, together with the funding source, will be finalised,” he said.
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This is how much social grant beneficiaries will now get monthly:
- Child Support Grant increases from R510 to R530
- Foster Child Grant increases by R50
- Older Person’s Grant increases by R90 on 1 April and R10 in October 2024.
- Covid-19 Social Relief of Distress Grant – R350
