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Updated: May 2, 2025
She had come to live in one of the dilapidated lodges on the place, with very little between her and starvation beyond the old-age pension, supplemented by contributions from charity. The old woman was nearer ninety than eighty, but was still lively and intelligent, despite her eccentricity. The big apron she was wearing was full of sticks and she had a bundle in her arms as well.
It means that the whole field of insurance is far more open to the poorest class of people than it was before, and that with a proper system the benefits of the Old-Age Pensions Act would not be confined to the actual pensioners who are drawing their money, but would extend forwards in anticipation to all other classes and to all other people, and that so far as five shillings a week is concerned that is not much unless you have not got it the actuarial position of every man and woman in this country has been enormously improved by the Old-Age Pensions Act.
We are told that our non-contributory scheme of old-age pensions, for instance, will be fatal to thrift, and we are warned that the great mass of the working classes will be discouraged thereby from making any effective provision for their old age. But what effective provision have they made against old age in the past?
An industrial corporation, in order to overreach its competitors, is compelled to adjust its intricate functions with incredible nicety, to utilize by-products, and even to introduce old-age pensions for the promotion of morale among its employees. And so a nation, to be strong in war, must enjoy peace and justice at home.
It is a disgraceful epic patched with splendid episodes, but it culminates in an appalling cry of doubt whether, after all, it might not be better for England to perish utterly in the great war while fighting for liberty than to survive to behold the triumph of the "governing class" in a servile State of old-age pensions and Insurance Acts.
She blindly adopted from Mamie Magen a half-comprehended faith in a Fabian socialism, a socializing that would crawl slowly through practical education and the preaching of kinship, through profit-sharing and old-age pensions, through scientific mosquito-slaying and cancer-curing and food reform and the abolition of anarchistic business competition, to a goal of tolerable and beautiful life.
"Under my personal direction, I am having prepared an old-age pension law and also a laborers' insurance law, covering loss in cases of illness, incapacity and death. "I have a commission working on an efficient cooperative system of marketing the products of small farms and factories.
The law also creates an "Old-Age Reserve Account" in the United States Treasury, and Congress is authorized to put into this reserve account each year enough money to provide for the monthly payments you and other workers are to receive when you are 65. The taxes called for in this law will be paid both by your employer and by you.
He seemed to this woman meekly resigned to old-age and maidenhood at thirty a mere child, and like the son which another woman might have had, but the missing of whom was a shame to her to contemplate. Then she had said good-bye to him, and bade him be always a good boy, and had leaned over and kissed him.
Chamberlain and the other more considerable advocates of old-age pensions clearly see that if such pensions are to be of real value they must discriminate between the deserving and the undeserving; and they believe that they may have the effect of stimulating, instead of weakening, thrift. For this purpose several schemes have been devised.
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