Personal property is not taken into consideration in determining the amount of accumulated property. It is also specified that a pensioner may retain a home to the value of £650 ($3,163). Provisions are made for the transfer of such property to the Public Trustees. The pensioner, or his survivors if entitled to a pension, are permitted to reside in the said property. At the death of the pensioner the Public Trustee sells the property and deducts out of the proceeds the total amount paid in pensions since the transfer of such property together with four per cent. interest.
In case the pensioner is married and living with his wife the net capital value of all the accumulated property of each is deemed half the total of both. The yearly income of each is also deemed half the total annual incomes of both. The total pension granted to both husband and wife living together must not exceed, together with the total incomes of both, £100 for the year. The law also provides for institutional care for those who are unable to maintain homes for themselves.
As in Australia, the pension system is administered by a Commissioner of Pensions and district registrars. The colony is divided into districts for this purpose. Pensions are awarded for one year only, but may be renewed.
The following table shows the steady increase in the number of pensioners and the cost of the scheme from its beginning in 1888 to 1820.
Number of Pensioners and Amounts spent in New Zealand each year since 1888 to 1820:
| Year | No. of Pensioners | Amount Spent |
|---|---|---|
| 1888 | 7,443 | £3,124 |
| 1800 | 11,285 | 157,342 |
| 1801 | 12,405 | 187,282 |
| 1802 | 12,776 | 207,468 |
| 1803 | 12,481 | 210,140 |
| 1804 | 11,826 | 203,164 |
| 1805 | 11,770 | 185,475 |
| 1806 | 12,582 | 254,367 |
| 1807 | 13,257 | 314,184 |
| 1808 | 13,568 | 325,188 |
| 1808 | 14,386 | 336,780 |
| 1810 | 15,320 | 362,486 |
| 1811 | 16,020 | 383,383 |
| 1812 | 16,648 | 406,256 |
| 1813 | 16,508 | 415,761 |
| 1814 | 18,050 | 416,776 |
| 1815 | 18,352 | 460,814 |
| 1816 | 18,804 | 478,338 |
| 1817 | ||
| 1818 | 18,860 | |
| 1818 | 18,872 | 482,458 |
| 1820 | 18,883 | 475,868 |
From 1888 to 1820, a total of 67,275 persons applied for old age pensions in New Zealand. Grants were made to 54,062 persons. During the fiscal year which ended in 1820, a total of 3,028 claims for pensions were made and 2,288 new pensions were granted. In the same year 2,168 pensions were cancelled either because of death of pensioner or for other reasons, leaving a net increase of 121 pensioners. The average pension during the last fiscal year amounted to £23, 12s. The percentage of European pensioners to the total European population was 1.6 in 1820. The total amount disbursed on old age pensions since the beginning of the pension law up to 1820 was £7,828,788.[296]
URUGUAY
On May 15, 1818, an old age pension law went into effect in Uruguay. The act provides for the pensioning of all persons upon reaching the age of 60 years, or other persons who have become totally incapacitated and are indigent, regardless of their age. Foreigners or naturalized citizens who have resided continuously in Uruguay for 15 years are entitled to pensions.
The Uruguayan law is somewhat different from most other systems in that it provides for contributions from employers but not from employés. The fund for the payment of these pensions is made up from the following: (1) A monthly tax of 20 centesimos (20.68 cents) payable by the employers for each person employed by them: (2) A surtax upon real estate valued at 200,000 pesos ($206,840) and over. The surtax ranges from 1.05 pesos ($1.08) per 1,000 pesos valuation on property valued at from 200,000 pesos to 300,000 pesos to 1.30 pesos ($1.34) per 1,000 pesos on property valued at 700,000 pesos and over. (3) A tax on playing cards of 20 centesimos (20.68 cents) if imported and ten centesimos (10.34 cents) if manufactured within the country. (4) An increase of twelve centesimos per liter (11.7 cents per quart) of the present tax on imported liquors. (5) An internal tax of 60 centesimos per liter (58.7 cents per quart) on imported alcohol and domestic alcohol not destined for denaturation. (6) The tax on imported brandies was increased by 13 centesimos (13.44 cents).
The annual pension is to be not less than 86 pesos ($88.28) and may be paid in cash or in supplies. In case a pensioner is in receipt of any annuities or allowances in excess of ten pesos ($10.34) the pension granted under this Act is reduced to 50 per cent of that sum in excess of ten pesos.[297]
On September 30th, 1818, the National Congress of Uruguay passed another act providing for pensions for public service employés which include the railroad, telegraph, tramway, telephone and water and gas distributing companies.
The full pension is paid after 30 years of service, but a right to a proportional pension is acquired after ten years of service, continuous or not. Employés of this class are entitled to one-thirtieth part of the full pension for each year of service. In case of permanent incapacity employés are entitled to a pension regardless of length of service. The pension ranges in accordance with the average wages for the last five years of service. Pensions are also paid to dependents and survivors of employés.[298]