Chancellor Announces Greater Pension Benefits
LONDON, January 24,
The Chancellor of the Exchequer (Sir John Simon) announced in the House of Commons today a scheme for greater pension benefits. Firstly, a grant of supplementary allowances would be payable by the Exchequer to pensioners according to their needs. By this means, local authorities would be relieved of an'expenditure of £5,250,000 a year in assisting 275,000 needy pensioners. Secondly, there would be admission to the pension scheme at the age of 60, instead of 65, of wives of contributory pensioners aged 65 .and over. Thirdly, there would be a reduction from 65 to 60 of the pension age of insured women. Three Million Affected. Fourthly, contributions to the contributory scheme would be increased by 2d a week for men and 3d a week for women, employers to pay Id a week of these amounts. The scheme affects 3,000,000 old-age pensioners: The .admission of women at the age of 60 will put 10/- a week into the pockets of 150,000 spinsters.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/NA19400125.2.103
Bibliographic details
Northern Advocate, 25 January 1940, Page 6
Word Count
168Chancellor Announces Greater Pension Benefits Northern Advocate, 25 January 1940, Page 6
Using This Item
NZME is the copyright owner for the Northern Advocate. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence . This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in