Pension is a benefit paid to wartime veterans who have limited or no income, and who are age 65 or older, or, if under 65, who are permanently and totally disabled, not due to their own willful misconduct. This is a low income benefit. Pays approximately $1,336/month minus offsets for all other incomes. The VA will add approximately $413/month for each dependent child. Medical premiums and expenses will be counted by VA to offset some of the incomes. Net worth rule of thumb is that gross income plus gross assets (excluding primary home) should not exceed $155,356.
To complete an application, the following documentation is needed:
- Military Discharge (DD214)
- Marriage Certificate (If Married)
- Birth Certificate (Children under 19)
- All private medical documentation for conditions being claimed.
- Direct deposit information