AGE BENEFITS SOUGHT
Assets Liquidated To Buy Homes
MOVE BY ELDERLY PERSONS Sales of Properties In Auckland (Special to The Times) AUCKLAND, April 14. With the idea of participating in the age benefits of the Social Security Act, some elderly persons, it is reported, have been liquidating various assets which had been returning them a small income and investing the proceeds in a home in which to live. Land agents state that sales of small house properties have been made in the last few weeks to persons who intend to claim the age benefits. A married couple, both of whom are 60 years or more, are entitled to £1 10/each and may have up to £1 a week other income. The possession of the house in which they live does not affect their eligibility for a full pension. The tendency mentioned represents an endeavour by the persons concerned to readjust their position so as to obtain the maximum benefit of the legislation. Inquiries are also said to be in progress by Government superannuitants who propose to capitalize their superannuation for the purpose of purchasing a home. They will then claim the social security age benefits.
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https://paperspast.natlib.govt.nz/newspapers/ST19390415.2.62
Bibliographic details
Southland Times, Issue 23793, 15 April 1939, Page 8
Word Count
195AGE BENEFITS SOUGHT Southland Times, Issue 23793, 15 April 1939, Page 8
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