Age Benefit Means Test
WELLINGTON, Thu. (PA.) The suggestion by Opposition speakers in the House of Representatives that the Government, should inquire into the cost of abolishing the means test for the age benefit—first made by Mr J. R. Hanan (Invercargill! and supported by Mr K. J. Holyoako (Pahiatua) drew a reply from the Minister of Industries and Commerce (Mr Nordmeyer). Mr Nordmeyer' said there were sound reasons in 1936 for making the benefit payable at 60 years, but it was not intended fo be a pension for all. , The age expectancy of the population was increasing, and not all wanted or needed the benefit at 60. if the means test were abolished it would cost £25,946,000 a year to pay a. benefit of £2/5/- a week, instead of the present sum of just under £14,000,000. If the benefit were increased to £2/10/-, the cost of paying it to all aged 60 would be £28,000.000; at £3/15/the cost would be £31,000,000 annually, and if the rate were £3 a week the cost would be £34,000.000 a year. Universal benefit payable ai ihe age of 65 would cost £i6.880.000 at y;; 5 - a week. fUt.llOU.lliin at £2 10 ,‘.20.000,000 at £8 a week.
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https://paperspast.natlib.govt.nz/newspapers/NA19490721.2.25
Bibliographic details
Northern Advocate, 21 July 1949, Page 4
Word Count
202Age Benefit Means Test Northern Advocate, 21 July 1949, Page 4
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