Veterans Pension Act

Veterans Pension Act - Removes the stated inclusion of salary retirement or annuity payments, or similar income, which has been waived, irrespective of whether the waiver was made pursuant to statute, contract or otherwise, by the veteran, from the present classification of payments which the Administrator of Veterans' Affairs shall include in determining annual income for purposes of the payment of pension for non-service-connected disability or death of eligible veterans.

Authorizes the payment of pension to unmarried veterans of the Mexican border period, World War I, World War II, the Korean conflict, and the Vietnam era for non-service-connected disability or for service at an annual rate of $3,300 to be paid monthly, such rate to be reduced by the amount of the veterans' annual income.

Provides for a similar pension at an annual rate of $5,400 for eligible veterans who are married and living with a spouse, or have a child.

Provides for annual payments of $2,400 to each child of a veteran upon whose death the pension payment is based whenever there is no widow to receive the pension.

States that this Act shall take effect on January 1, 1976.