Proceedings of the New York State Conference of Charities and Correction Volume 2 (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1902 Excerpt: ...will be done away with. It is impossible here to discuss the Invalidity Law in detail. Of interest, however, particularly in view of the possibility of introducing a similar system in the United States, are the premiums which must be paid by the various classes of insured, and the invalidity and old age pensions which are paid to each class. Invalidity pension is paid without regard to the age of the applicant, if permanently incapacitated for work; old age pension to any one who has reached his seventieth year. By incapacity is understood the inability to earn one-third as much as any other individual can earn under similar conditions in the same place, and at the same trade. "No one, however, is entitled to an invalidity pension who has not paid at least 100 weekly premiums, and who has not waited 200 premium weeks. When the payment is less than above, applicant must wait 500 premium weeks. For old age pension, 1,200 premium weeks must have passed. The premium payments are as follows: Class 1, 14 pf. weekly. Class 2, 20 pf. weekly. Class 3, 24 pf. weekly. Class 4, 30 pf. weekly. Class 5, 36 pf. weekly. The various classes are as follows: Class 1, earning up to 350 marks per annum. Class 2, earning 350 to 550 marks per annum. Class 3, earning 550 to 850 marks per annum. Class 4, earning 850 to 1,150 marks per annum. Class 5, earning above 1,150 marks per annum. To which the insurance society pays the following invalidity pension: Class 1, 60 marks per annum. Class 2,70 marks per annum. Class 3, 80 marks per annum. Class 4, 90 marks per annum. Class 5, 100 marks per annum. Old age pensions are slightly higher than the invalidity pensions, as follows: Class 1, 60 marks per annum. Class 2, 90 marks per annum. Class 3, 120 marks per annum. Class 4, 150 ma...