INCOME AND AGE BENEFIT
(To the Editor.) Sir, —May I ask for more information regarding pensions and' income. In your reply to "More Light;" it was stated that a couple of 60 can own their own house, etc., have £500 each in the bank, together with a total private income of £1 per week and still draw £3 per week. Now, others and myself would like to biT quite clear whether the interest from the £buo each, forms part of the total of £1 per week, which is allowed over the £3 per week. If so it would reduce the actual pension, to £22 par I year, seeing, that the interest on the two separate £500 at 3 per cent. (Post Office Savings Bank) would amount to £30.-1 am, etc., IN DOUBT. [Income from savings is reckoned in computing the age benefit. A couple with £500 each in the Savings Bank would receive £30 income from that source and could have £22 more private income without reduction of the pension. But if they had £1 a week in addition to the income from the Savings Bank each pension would be reduced bj' £15 a year, making it £63 a year, or £ 126 for the couple instead of £156.]
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https://paperspast.natlib.govt.nz/newspapers/EP19380912.2.55
Bibliographic details
Evening Post, Volume CXXVI, Issue 63, 12 September 1938, Page 8
Word Count
208
INCOME AND AGE BENEFIT
Evening Post, Volume CXXVI, Issue 63, 12 September 1938, Page 8
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