April 10, 2014

Dear Sir,

I must apologise that there was a typo in the Letter to the Editor that was sent on Tuesday.

The payout at age 79 should have been $3,874 not $1,000.

Therefore, the payout at 70 is $10,000, 71 is $9,000, 72 is $8,100, 73 is $7,290, 74 is $6,561, 75 is $5,905, 76 is $5,314, 77 is $4,783, 78 is $4,305, 79 is $3,874.

This brings home the declining amount of the payout under the current regulations.

A CONCERNED

PENSIONER