The Centenary of the Age Pension one dollar coin was issued in 2009 to commemorate a century since the formation of the
age pension in Australia. The
The newly formed Commonwealth Parliament passed the Invalid and Old-Age Pensioners Act into law in 1908. This legislation provided security to Australia's then quite small elderly population. Much debate occurred in the lead up to the legislation's introduction with most of the focus being on how to fund the pensions and whether these schemes should be the responsibility of state or commonwealth. Eight years earlier the state of New South Wales had introduced legislation allowing white Australians who had resided there for at least 15 years and whose income was less than 50 pound a year to receive a pension of ten shillings a week. (National Museum of Australia, 2017) This one dollar piece commemorates the importance of these social policies that have provided older Australian's with consistent support, security, and dignity.
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