PENSIONS INCREASE

Nelson Evening Mail, Volume LXVI, 28 September 1934, Page 4

PENSIONS INCREASE

BILL PASSED LAST EVENING (By Telegraph) (From “The'Mail’s” Parliamentary Reporter) WELLINGTON. 27th September. The 5 per cent, increase in allowances to old age pensioners ■ will operate as from Ist April last, effect to this concession being given by the Finance Bill which was passed by the House of Reresentatives to-night. Under the measure the maximum old age pension is increased from £4O 19s to £43. In addition the amount of income to which pensioners can be in receipt without suffering a reduction in the maximum is raised from £39 to £4l. The case of married old age pensioners is also dealt with. The existing law is that the joint pensions of husband and wife together with their joint- private income must not exceed £l2l, this amount being approximately the total of the two pensions of £4O 19s plus other joint income of £39.

As the amount of pension and income exemption is being increased as stated the amount of £l2l is being consequently raised to £127. It was explained by the Rt. Hon. J. G. Coates. Minister of Finance, that the South African War pensioners received £l3 a year in addition to the ordinary old age pension, it being provided, however, that the aggregate receipts from all sources must not exceed £79 19s. That sum was calculated by reference to the amount of old age pension and also to the amount of private income received. As the old age pension rates were being increased it was necessary to raise to £B4 the amount of income exemption in the case of South African veterans.