All NIS contributors on reaching age 60 should submit a claim to - TopicsExpress

All NIS contributors on reaching age 60 should submit a claim to the NIS for Age benefit. This benefit is paid as a Grant or a Pension. Qualification is dependent on the number of contribution week an insured person has. A minimum of 500 contributions weeks, which is approximately 10 years contribution, is required for a pension. A pension is a monthly payment for life. An Age Grant is paid in instances where the insured person less than 500 contribution weeks. To qualify for an Age Grant the insured person must have between 50 and 499 contribution weeks. A grant is a one-tine lump-sum payment.

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