A bill to amend title 38 of the United States Code in order to provide that all Federal retirement and similar payments be disregarded in determining annual income for purposes of the veterans' pension laws, and for other purposes.

Requires that all Federal retirement and similar payments be disregarded in determining annual income for purposes of the veterans' pension laws.

Provides that the provisions of this Act shall apply to annual income determinations for calendar years after 1972. (Amends 38 U.S.C. 415(g) and 503(a)(6))