CARING FOR THE AGED

Poverty Bay Herald, Volume LXIII, Issue 19106, 29 August 1936, Page 5

CARING FOR THE AGED

PENSION OF 22/6 A WEEK

START FROM DECEMBER • / PROPERTY RESTRICTIONS

The Pensions Amendment Bill is retrospective to July 1. From July 1 to November 30, the rates of old &g pensions have been increased to ti a week, and after December 1 the rate will be £1 2s 6d a week.

The provisions dealing with the excess income of the pensioner arc practically unaltered. In cases where an applicant is married, the existing law stipulates that the yearly income of.each party shall be deemed to be half the total yearly incomes of both, provided that the amount of the pension of either of them for any year shall in no case exceed such sum as with the total actual incomes of both of them for the year and the pension, if any, then already granted to either of them will amount to £143. This amount has been increased to £156, and after December is to be increased to £169.

In computing the capital value of the accumulated property of an applicant for a pension no account shall be taken of his interest in any land, including his interest under any mortgage, any estate, or interest in land, his interest in any . annuity or in any poiicy of life insurance, any furniture or personal effects belonging to the applicant except as provided.

.Accordingly, all property belonging to an applicant shall be deemed to be his accumulated property, the capital value of which is to be ascertained by regulations under the principal Act, or by a magistrate or the Commissioner of Pensions. The sum of £SOO is to be deducted from the capital value of accumulated property and the residue becomes the net capital value. This procedure relates to husband and wife. r ’his method of assessment of the value rf accumulated property replaces the present method.

The section of the principal Act dealing with cases where an applicant was the owner of his residence has been repealed.

An amendment has been made in connection with the computation of annual income. Previously, personal earnings which had ceased could be excluded from the computation in the ease of loss of employment. The bill empowers that a magistrate or the commissioner, where he is satisfied that income for the current yeaj- will be less than the income for the preceding year, may exclude an amount not exceeding the amount of the estimated redaction.