When dealing with eligibility, income is a major factor for an N.S.C. vet.
What counts as income?
The intent is to look at New Law Pension. In other words, the type of pension a person would receive, if they applied today. There are older forms of pension with some notable differences.
For a comparison of the different Pensions one could look in tile C.F.R. under
3.261. This gives a comparison in the existing pensions. Also the C.F.R. deals with this issue (income) from 3.260 - 3.277.
In compiling the list an additional source, VA Manual M 21 -1 Part IV paragraph
16.41, was used. The following are potential sources of income that must be calculated when estimating pension eligibility:
Business, farm or professional income
Compensation for injury or death
Your earnings
Income of spouse (remember, New Law Pension)
Income of children
Retirement or survivors program income
Interest
Dividends
Life Insurance
Unemployment Compensation
Benefits subject to garnishment
Social Security lump sum death benefit
Individual Retirement Account, I.R.A. distributions
Withdrawal from retirement fund (the contribution withdrawn)
Department of Labor employment programs, such as Older Americans Community Service Employment Program
VA. benefits, burial, education, compensation, DIC and others
Value of Room and board
Gifts and inheritance
Waived income
Gains from gambling
Payment to W.W. 2 Japanese internees
Vietnam War bonus payment
U.S.G.L.I. (G.I. Life Insurance) or N.S.L.I.
List of deductible (not counted for Pension purposes) income:
Wclfare and SSI
Maintenance (refer to 3.272 b, this is basically support provided by relative, friend or charitable organization).
Proceeds from casualty insurance, provided it does not exceed loss
Profit from sale of property
Profit from sale of timber or mineral royalties
Income from Domestic Volunteer Service Act
Agent Orange settlement payments
Income tax refund
Withheld social security
Distributions from VA Special Therapeutic and Rehabilitation Activities Fund Home Energy Assistance Act
Interest on I.R.A.s
Chore services payment
Loans
Crime Victims Compensation Act payments
Provisional Income
Scholarships and grants for school
Survivor's benefit annuity
California State renter's credit
Relocation expenses
Disaster relief payments
F.H.A construction grants
Insurance dividends
Payments to foster parents
Joint accounts
REMEMBER: Regional Office has the final say in what deductions are approved.
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