The VA Veterans Pension program provides financial assistance to low-income and low-net-worth wartime veterans who meet specific criteria. Additionally, there is a VA Pension program for the surviving spouse of a wartime veteran, which will not be discussed here but will be discussed in another article. There are three main options for the veterans pension: the basic pension, pension with housebound, and pension with aid and attendance. Each option offers different levels of financial support based on the veteran’s circumstances.
VA Basic Pension
The basic pension is available to wartime veterans who have limited income and are either age 65 or older or are permanently and totally disabled.
Eligibility requirements include:
- Service : At least 90 days of active duty, with at least one day during wartime, and the veteran cannot have an Other Than Honorable, Bad Conduct or Dishonorable Discharge.
- Income limit : Countable income must be below the Maximum Annual Pension Rate (MAPR) limit set by Congress. For 2024, the MAPR for a single veteran with no dependents is $16,037.
- Net worth limit : As of 2024, the veteran’s net worth, including assets and annual income, must not exceed $155,356. Net worth includes savings, investments and property (excluding the veteran’s primary residence).