Commonwealth act

Invalid and Old-age Pensions Appropriation Act 1927

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Act Number

11 of 1927

Collection

act

Plain English Summary

1/10 complexity

This law authorises the government to withdraw £10 million from Australia's main government bank account (the Consolidated Revenue Fund) and deposit it into a special fund dedicated to paying disability and retirement pensions.

What the money is for:

Invalid pensions: Payments for people unable to work due to disability or illness (similar to today's disability support pension)
Old-age pensions: Retirement payments for elderly Australians

Think of this as the annual budget top-up that ensures there's enough money available to pay these social security benefits. The funds go into a special 'Trust Account' (essentially a dedicated savings account) established under financial management laws, ensuring the money is only used for pension payments.

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Current sections

Direct links to the current provisions in Invalid and Old-age Pensions Appropriation Act 1927.

Invalid and Old-age Pensions Appropriation Act 1927

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INVALID AND OLD-AGE PENSIONS APPROPRIATION.

No. 11 of 1927.

An Act to grant and apply out of the Consolidated Revenue Fund a sum for Invalid and Old-age Pensions.

[Assented to 8th April, 1927.]

Preamble.

BE it enacted by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, for the purpose of appropriating the grant originated in the House of Representatives, as follows:—

Short title.

1. This Act may be cited as the Invalid and Old-age Pensions Appropriation Act 1927.

Appropriation of £10,000,000 for invalid and old-age pensions.

2. There shall be payable out of the Consolidated Revenue Fund, which is hereby appropriated accordingly, for the purposes of the Trust Account established under the Audit Act 1901–1926, and known as the Invalid and Old-age Pensions Fund, the sum of Ten million pounds for invalid and old-age pensions.

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.