ELDERLY PEOPLE BUY HOUSES
Will Claim Security Act Age Benefits Dominion Special Service. AUCKLAND, April 14. With the idea of participating in the age benefits of the Social Security Act, it is reported that some elderly persons have been liquidating various assets which had been returning them a small income and investing the proceeds in a home in which to live. Land agents say that sales of small house properties have been made in the last few weeks to persons who intend to claim the age benefits. A married couple, both of whom are 60 years old or more, are entitled to £1 10/- a week each and may have up to £1 a week Of Other income. Possession of the house in which they live does not affect their eligibility for the full pension. The tendency mentioned represents an endeavour by the persons concerned to readjust their position so as to obtain the maximum benefit of the legislation. Inquiries are also said to be in process by Government superannuitants who propose to' capitalize their superannuation for the purpose of purchasing a home. They will then claim the Social Security Act age benefits.
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https://paperspast.natlib.govt.nz/newspapers/DOM19390415.2.52
Bibliographic details
Dominion, Volume 32, Issue 170, 15 April 1939, Page 10
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193ELDERLY PEOPLE BUY HOUSES Dominion, Volume 32, Issue 170, 15 April 1939, Page 10
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