The price of a Metro Gold Card is to be reduced, from £25 to £12 for anyone buying the ticket from 1 April 2014.
The new price reflects the fact that the Metro Gold Cards are much easier to buy and use.
The Gold Card is now being sold as a smartcard product which can be uploaded directly on to a concessionary travel scheme card for older and disabled people (free bus pass) from Metro ticket machines at all 60 stations.
Passengers will also soon be able to buy a Gold card online.
Chairman of the Tyne and Wear Integrated Transport Authority, Cllr David Wood, said: “After reducing the cost of Metro travel for young people and students at the start of the year we are now able to offer exceptional value for elderly and disabled passengers.
“The price reduction on the cost of the Metro Gold Card means that pensioners and disabled people can get unlimited off peak Metro travel for just £1 a month. This is excellent value for money.
“The Gold Card is also now a smartcard product which can be uploaded straight on to the free bus pass at any Metro ticket machine, making it even easier to buy.”
Director of Finance and Resources for Nexus, John Fenwick, added: “The Metro Gold Card is now much easier to buy. It is available from all Metro ticket machines. We want people to see this as a good value product that they can just turn up and buy and use for a year.”
The price reduction means that pensioners and disabled Metro passengers can get unlimited off-peak Metro travel and all day at weekends for just £1 a month.
The cost of Metro Gold Cards for people who are not resident in Tyne and Wear is coming down from £35 a year to £25.
Gold Cards were introduced in 2006 to offer concessionary travel pass holders discounted off-peak travel on the Tyne and Wear Metro for a one off yearly payment.