A Veteran's pension or "wartime pension" is a pension for Veterans of the United States Armed Forces, who served in the military but did not qualify for military retired pay from the Armed Forces. It was established by the United States Congress and given to Veterans who meet the eligibility requirements. Along with payments Veterans are also given additional benefits depending on their eligibility and needs.
The Veterans Pension system is managed by the Department of Veterans Affairs.
The Veterans Pension is sometimes called the "wartime pension" due to a Pension criterion requirement that the Veteran served at least one day during a U.S. wartime period. The Department of Veterans Affairs publishes a list of Eligible Wartime Periods for determining if the Veteran meets the wartime service criterion. As of February 2017 to determine eligibility for the Veterans Pension the Veterans Administration recognizes the following wartime periods:
A source of confusion can be use of the term "wartime pension." Some mistakenly interpret this to mean the pension is awarded only to Veterans who participated in combat or served in a combat or war zone. The Veterans (or Wartime) Pension does NOT require the Veteran to have participated in combat, nor that the Veteran served in a combat or war zone.
A pension plan for disabled veterans was established by congress in 1792. Pension legislation for all surviving veterans was passed in 1818. This was unique to federal legislation. Money was shifted from the national treasury to individuals who were perceived as having the right to preferential treatment. The recipients were entitled to these payments because the pensions were viewed as delayed payments for the people who served during the American Revolution.
Someone is generally eligible for veteran's pension if he or she:
Note that a Veteran who age 65+, is NOT disabled, in good health, and meets the other listed criteria generally is eligible to receive the Veterans Pension.
The annual pension is calculated by adding all of the person's countable income. Any deductions are then subtracted from that total. The remaining total is deducted from the maximum pension limit (taking into account the number of dependents, spouse, etc.). This final number is the yearly pension; dividing it by 12 results in the monthly pension.
The Veterans Pension is a tax-free benefit NOT subject to federal income tax. Regarding state tax, the Veteran or beneficiary must check with the taxing authority in his or her state of residence to determine if the Pension is subject to state income tax.
In addition to monthly payments, certain veterans may be eligible for additional benefits such as automobile grants, special adaptive housing, traumatic service members group life insurance, educational benefits and health care. 
Aid and Attendance is an amount awarded in addition to the basic pension. This benefit takes into account a person's unreimbursed (out-of-pocket) medical expenses. These medical expenses are subtracted from a person's gross income to determine eligibility.
A Veteran is eligible for Aid and Attendance when he or she
A Veteran is eligible for Housebound benefits when he or she: