Home News #Budget2018 Pensioners will only get a R90 increase

#Budget2018 Pensioners will only get a R90 increase

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Social grant beneficiaries are expected to see slightly higher increases in the amount of money they receive from government.

Finance Minister Malusi Gigaba.

PARLIAMENT – Social grant beneficiaries are expected to see slightly higher increases in the amount of money they receive from government to offset an increase in value-added tax, Finance Minister Malusi Gigaba said on Wednesday.

“Government has taken deliberate steps to adjust social grant values above inflation to at least partially cover for the proposed increase in Vat,” Gigaba said in his budget speech which he tabled in Parliament.

Pensioners will see their grants increase from R1,600 to R1,690 by April 1 and by another R10 by October 1.

The child support grant will increase by R20 from R380 to R400, and by another R10 come October 1.

“An additional R2.6 billion has been added since the medium-term budget policy statement to social grants to enable these changes.

According to Statistic’s SA’s 2017 data, 16.5 million people from a population of 51.8 million are recipients of social assistance grants. These social grants are expected to increase during the 2018 financial year. 

Grant recipients currently receive the following:

– Old age grants payment of R1600 for pensioners over the age of 60, and R1620 for those over 75.

– The disability and care dependency grants of R1600 a month.

– Foster care grants of R920 a month.

– The child support grant of R380 a month.

-BUSINESS REPORT ONLINE 

– African News Agency