How To Qualify For Old Age Pension In South Africa

What is Pension?

A pension is a fund into which amounts are paid regularly during the individual’s working career, and from which periodic payments are made to support the person’s retirement from work. 

How To Qualify For Old Age Pension In South Africa

You qualify for an older person’s grant if:

  1. You are a South African citizen, permanent resident, or refugee.
  2. You live in South Africa.
  3. You are 60 years or older.
  4. You are not living in a state institution.
  5. You are not receiving payments from another social grant.
  6. Your spouse complies with the means test.

Can you withdraw from your pension fund in South Africa?

In accordance with the current retirement regime, individuals are able to make full withdrawals from their pension or provident fund when they cease employment. Further to the above, individuals are also able to make once-off withdrawals from their pension preservation or provident preservation fund(s).

How can I check my pension balance in South Africa?


This means you can log in to your account to check your pension any time, just like you check your bank balance from your online banking portal. If you’ve got a PensionBee pension, your online account is called your BeeHive, and from here you can see your pension balance.

How is your pension calculated?

A pension calculated by multiplying how long you’ve been a member of the scheme by your final salary (this could be an average of a number of your final years), then dividing by a fraction – such as 1/60th or 1/80th – of your pensionable pay.