SOCIAL SECURITY.

Auckland Star, Volume LXX, Issue 304, 26 December 1939, Page 6

SOCIAL SECURITY.

When do the age 'benefits of the Social Security Act come into fore© and to whom do they apply ? Are old age pensioners in any walk of life eligible? How do they apply to an old age pensioner who is over sixty-five now? As there seems to be a lot of misunderstanding and confusion about this, a clear explanation from you 'would be appreciated l>v manv of vour readers. " A(JE BENEFIT.

[The superannuation age benefits under the Social Securitv Act became available as from April 1, 1939. They are payable to all eligible persons at 60 years of age and over, the income provisions being as follow: (1) The maximum income, including the benefit, for a single man or woman, a widow or widower, is £2 10/: (2) for a married applicant, the maximum income, including the benefit, is £4. The age benefit is reduced by £1 a year or every £10 of net "accumulated* property."' Under the definition of "accumulated property," an applicant s home and furniture, any interest in land or mortgages, or in an annuity, or any insurance poliev, and, in addition, a sum of £500. are'totally exempt; 'but any income, received from such property is taken into account •» "other income."—Ed.]