SOCIAL SECURITY BENEFITS

Press, Volume LXXVII, Issue 23414, 22 August 1941, Page 10

SOCIAL SECURITY BENEFITS

Sir,—ln a footnote to the letter from “Justice Every Time" you say that if the beneficiary who has SHOO invested and who receives only £l7 age benefit were to spend £6OO in the purchase of a home, such beneficiary would be entitled to the full age benefit of £7B. If such beneficiary or any other person does this, it may result in such person being worse on than dt prcsfflti Section 20 of the Social Security Act says; “Provided that if at any time, whether before or after the commencement of this part of this act, any property that would be regarded as accumulated property has been converted into property of any pf the classes referred to in the foregoing provisions of this sub-section the commission may regard such property,- in whole or in part, as being accumulated property of the applicant if in its opinion the conversion of the property was not in good faith but was for the purpose of securing a pension under , any. act repealed by this act or an age benefit under this part of this act, or an increased rate of such pension ‘ or benefit.” ' What a disaster to a man who, say, sells Government stock ,or an annuity which at present debars him from or reduces an age benefit, and invests the proceeds in a home, thinking that He and his wife will havesttJjgStfrW' home and £3 a week, and then finds that‘by transferring his capital from the classes which debars him from an age benefit to classes his age benefit is disallowed,—Yours, etc;; 1 ' *O.A;D. August 21, 1941,