Heroes Rewarded: Nationwide Military Veterans Pension Rollout Begins

Military Veterans South Africa
  • The Ministry of Defence and Military Veterans, led by Deputy Minister Thabang Makwetla, has announced the rollout of the Military Veterans Pension, in accordance with the Military Veterans Act of 2011. The Regulations overseeing the Act’s execution were submitted to Parliament and subsequently published with public-sourced amendments.
  • The pension rollout aims to ensure that no military veteran who served the nation is left without a state pension. This initiative is an equitable, balanced, and morally justifiable government intervention.
  • The Government Pension Administration Agency (GPAA) is handling the administration of the pension rollout, with over 600 applications received so far. The Ministry continues to encourage all eligible military veterans to apply for this pension at GPAA offices.

In a milestone move, the Ministry of Defence and Military Veterans, under the guidance of Deputy Minister Thabang Makwetla, has announced the long-anticipated rollout of the Military Veterans Pension. This decision was first established in the Military Veterans Act of 2011, Act no. 18 of 2011.

The process was set in motion last December when the Regulations overseeing the Act’s execution were submitted to Parliament by the Ministry of Defence and Military Veterans. These Regulations underwent a public examination period of thirty days to gather feedback and suggestions.

After the month-long period, the Ministry moved forward with the publication of the Regulations in the government gazette, incorporating valuable amendments sourced from public contributions. This step was critical in refining the regulations, however, it has not halted the ongoing administrative process of the pension’s rollout, including the acceptance and processing of applications, and paying out to those who meet the qualifying criteria.

The Ministry has acknowledged the ongoing nature of amendments to the regulations, viewing it as a necessary step to ensure a seamless execution of the legislation.

This pension initiative is an equitable, balanced, and morally justifiable government intervention, designed to guarantee that no military veteran who served the nation will be left without a state pension.

The Ministry has clarified that the pension rollout will be administered through the Government Pension Administration Agency (GPAA). This comes in response to confusion sparked by the Department of Military Veterans officials during a recent interaction with Parliament’s oversight committee on Defence and Military Veterans.

Since the initiation of the pension rollout, the GPAA has already received over 600 applications. The Ministry is urging all eligible military veterans to apply for this pension at GPAA offices, following the criteria outlined in the draft regulations.

This landmark rollout represents a significant step towards recognizing and rewarding the dedicated service of military veterans, with ongoing commitment from the government to ensure efficient implementation and fair distribution of the new pension scheme.

Visited 1 times, 1 visit(s) today

Stay ahead in the financial world – Sign Up to Rateweb’s essential newsletter for free. Get the latest insights on business trends, tech innovations, and market movements, directly to your inbox. Join our community of savvy readers and never miss an update that could impact your financial decisions.

Do you have a news tip for Rateweb reporters? Please email us at

Related

Personal Financial Tools

Below is a list of tools built to assist South Africans to make the best financial decisions:

Latest

Rateweb

South Africa’s primary source of financial tools and information

Contact Us

admin@rateweb.co.za

Disclaimer

Rateweb strives to keep its information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All financial products, shopping products and services are presented without warranty. When evaluating offers, please review the financial institution’s Terms and Conditions.

Rateweb is not a financial service provider and should in no way be seen as one. In compiling the articles for our website due caution was exercised in an attempt to gather information from reliable and accurate sources. The articles are of a general nature and do not purport to offer specialised and or personalised financial or investment advice. Neither the author, nor the publisher, will accept any responsibility for losses, omissions, errors, fortunes or misfortunes that may be suffered by any person that acts or refrains from acting as a result of these articles.