OLD AGE PENSIONS

Dominion, Volume 1, Issue 236, 29 June 1908, Page 7

OLD AGE PENSIONS

| SLIDING SCALE, INCOME LIMIT NOT RAISED. SCHEDULE ISSUED. (Rec. June 28, 4.35 p.m.) London, Juno 27. The Chancellor of tlio Exchequer' (Mr. Lloyd-George) has issued a schedule graduating old ago pensions according to income. Under this schedule, a pension of ss. will bo paid when tho yearly inconio of tlio pensioner does not exceed £21 (8 1-13 shillings per week); and tho pension gradually decreases Until a person with a yearly incomo of £31 10s. (12 3-26 shillings per weok) is accorded ho pension.

| EFFECT OF THE SCHEDULE. This is apparently the sliding scale which tho Chancellor originally. proposed. Tho computation will start with an incomo of Just over Bs. , a woelc, and the process of pensionroduction will go on till a person with an income of just over 12s. a week gets nothing. It has already been indicated that tlio rate of reduction will lie one shilling off pension for each ono shilling added to incomo. Thus tho scale will be:— Total Amount of Amount of income and .income pension pension per week. per week. per week. Bs. 1 Ss. 13s. 9s. 4s. 13s. 10s. 3s. . 13s. lis. 2s. 13s. 12s. Is. 13s. At tho fraction above the 12s. income, tho last shilling of pension goes; where tho income is below Bs., or nil., tho full ss. pension is paid. As was shown in Friday's issue, tho Labour party clamours for a raising of tho incomo limit ■by at least 2s. a week.