What You Need To Know About Veteran Pension Plan
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Veterans may be eligible for a number of different pension plans. If you are a veteran of war, over 65 and on a limited income, you may be eligible for a veteran’s pension even if you are not disabled.
Veteran Pension Plan EligibilityUnless you were dishonorably discharged, you are eligible for a veteran’s pension if you were on active duty for 90 days or more with at least one of those days being a period of war. If you served after September 7, 1980, you must have served for 24 months or the entire period of your tour to be eligible. However, you must be either permanently and completely disabled or over the age of 64 and with an income lower than limits determined by law.
Current Income Limits For Veteran Pension PlansIf you are a veteran with no dependents, your annual income must as of December 2007 be below $11,181. If you have a spouse or child, the limit is $14,643 plus $1,909 for each additional child. If you are homebound, the limit is $13,664 with no dependent and $17,126 with one dependent. If you need assistance, your limit is $18,654 with no dependents and $22,113 with one dependent.
Other Information About Veteran Pension PlansThe veteran pension plan brings your income up to the limits delineated in the last section, so your monthly benefit would be the annual income limit minus your current annual income divided by 12. For example if you are a married veteran with an income of $8,643, your pension will be $6,000 a year, or $500 a month. To apply for a veteran pension plan, fill out VA Form 21-526, the Veteran’s Application for Compensation or Pension. You should include evidence of spouse and dependents as well as relevant medical records. If you like, you can apply for your pension online at VAbenefits.vba.va.gov/vonapp/main.asp.
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