Newspapers / The Echo (Pisgah Forest, … / Nov. 1, 1952, edition 1 / Page 10
Part of The Echo (Pisgah Forest, N.C.) / About this page
This page has errors
The date, title, or page description is wrong
This page has harmful content
This page contains sensitive or offensive material
■'c? J 1 CHANGES IN THE SOCIAL SECURITY LAW PROVIDE MORE BENEFITS Important changes were made in the Federal Old-Age and Survivors Insurance by recent amend ments to the Social Security Act, which means more liberal payments when you reach 65. These increases should be of interest, since these are ben efits that you will receive when you retire, or your family will get in case of your death. Along with your personal savings and the Ecusta retirement plan. Social Security will round-out a program of security during the later years of your life. The new benefits went into effect in September with payments being increased in the checks mailed on October 3. The benefit increase to those on the rolls amounted to 12 V2 per cent or $5.00 which ever is the larger. For those the new formula as shown below will be used, which will result in a higher benefit than could have former ly been paid. Previously you could earn only $50 per month after you reached the retirement age of 65 and still be eligible for Social Security benefits. Under the new law you can earn as much as $75. As be fore, persons 75 years of age and older can re ceive payments regardless of any amount of earn- ings. The 1952 amendments provide social security wage credits of $160 per month for Military serv ice from July 25, 1947, through December 31, 1953. Wage credits for Military service after the end of World War II count toward both survivors benefits and retirement benefits for months after August 1952, but do not count toward lump-sum death payments where the servicemen died before September 1952. As a result of the new law, Mil- • NEW BENEFITS WENT INTO EFFECT IN SEPTEMBER • OCTOBER CHECKS CARRIED INCREASE i ^— 8
The Echo (Pisgah Forest, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Nov. 1, 1952, edition 1
10
Click "Submit" to request a review of this page. NCDHC staff will check .
0 / 75