old-age pensions

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Were first paid to persons over 70 years of age on 1 January 1909. A regular weekly payment by the state from taxation was preferred to any contributory scheme because of the high administrative cost. Almost half a million people qualified. After 1925 the age for support was lowered to 65 years. Pension entitlement began under the National Health and Insurance Act (1925) when worker, employer, and the state each contributed.

Subjects: History of the Americas.

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