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Savings and social welfare claims

  • 04-08-2010 8:53pm
    #1
    Mcwood
    Registered Users Posts: 25 ✭


    Hi there,

    I am a bit confuse :confused:, I heard that a person that have €20,000 or more in savings wont be able to claim benefits.

    Then I heard another person saying that if you have €20,000 or more in savings that you will be means test by the amount of savings you have in order for you to claim social welfare benefits?

    Under the Irish legislation how much are you allow to have in savings before affects your entitlement to claim social welfare If you become unemployed?

    I would appreciate your responses.

    Thanks


Comments

  • #2
    nojunkmaill
    Registered Users, Registered Users 2 Posts: 160 ✭✭nojunkmaill


    Anything over €20,000 in savings is means assessed on certain payments - Job Seekers Allowance etc.

    For the first €10k (i.e. €20k - €30k) it's €1 per €1,000

    Next €10k - €2 per €1,000

    Remainder - €4 per €1,000


  • #3
    moretothegirl
    Registered Users, Registered Users 2 Posts: 631 ✭✭✭moretothegirl


    nojunkmaill wrote: »
    Anything over €20,000 in savings is means assessed on certain payments - Job Seekers Allowance etc.

    For the first €10k (i.e. €20k - €30k) it's €1 per €1,000

    Next €10k - €2 per €1,000

    Remainder - €4 per €1,000

    I was also wondering this thanks! so basically your allowed up to 20,000 without the social welfare office caring cool


  • #4
    Mcwood
    Registered Users Posts: 25 ✭Mcwood


    So in other words after you reach more than €20k the social welfare would take €1 per €1,000 and as you described, next €10k - 2 per €1,000 and so on of your total entitlement. I guess that clear some misunderstanding.

    Thanks :) "Nojunkmail" for the clarification.


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