Child Benefit

dragona

Do you HAVE to claim it? Is it compulsory?

aidan_walsh

Why would you not want to?

dragona

No particular reason - don't need it, and it is a drain on resources. I know it is not means tested, but it should be.Lots of people get it when they could afford not to have it, and the people who do could get more.....
Anyway I've never bothered claiming it, but now my child needs a pps number, which you seem to get automatically when you claim child benefit, so I was wondering whether I will now be obliged to.

Pacifico

Can i have it?

Nevyn

it is an automatic right but if you choose not to excerise that right then dotn fill out the forums simple.

dragona

Thaed wrote:

it is an automatic right but if you choose not to excerise that right then dotn fill out the forums simple.

Ok but what if a child needs a pps no for school (automatic with child benefit)
How do you get one without getting child benefit also? Will I be given the 3rd degree?!

Hobbes

dragona wrote:

Ok but what if a child needs a pps no for school (automatic with child benefit)
How do you get one without getting child benefit also? Will I be given the 3rd degree?!

Your child gets a PPS number if you want it or not. You don't have a choice.

Child benefit you can refuse but you are better off getting it as it is your money paying for the benefit. If you think its a drain then throw into a credit union account for the kid. 12k a year for 18 years is a good way to stop your child worrying later in life.

Aquos76

Hobbes wrote:

12k a year for 18 years is a good way to stop your child worrying later in life.

Where are you geting the 12k a year from. The current rates are as follows

From 1st April, 2005 the monthly rate for the first and second child is:

* 141.60 euro per child

For third and subsequent children:

* 177.30 euro per child

So for one child it would mean €1700 per year

Hobbes

I misplaced my decimal place (you never see office space)

Wouldn't that be 1699.20 euro a year then. 30.5k if it goes to age 18.

Still a fair bit of cash that should be spent on your child imho.

MrPudding

For those of you that do collect the benefit check this out:

http://www.anpost.ie/personal/finance/personal_financial_regular_child.html

The interest rate after 5 years is hard to beat.

OP, how about you claim the benefit and put it into the above account. Just leave it there until you are getting the highest rate of interest. Then give an annual donation to your favorite charity. That way you know where the money is going and it isn't just dissapearing into the blackhole that is the department of finance.

I would love to be in a position to do this myself. However, I don't want my kids to have the trouble we are having to buy a house. By the time they need it there will be a tidy sum in the AnPost accounts. Give them a decent start in life.

MrP

Victor

Do claim it, put it in a bank account if needs be, but you never know whats around the corner, never mind 18 years down the line.

What if the child is orphaned in the morning / whenever? Wouldn't it be better to have some inheritance?