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Rent Allowance + SSIA?

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  • 29-05-2009 9:48am
    #1
    redtom
    Closed Accounts Posts: 261 ✭✭


    Hi folks, made redundant from job last year, got a redundancy which is now running out. Currently in a FAS course and looking at Rent Allowance - would I be flat out refused for having an SSIA (which I had originally planned as going towards a deposit for a house)? If so, then I won't bother applying, but if you're allowed some level of savings, then I might go ahead and apply. I've no other source of income at the moment.


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    #2
    Xiney
    Registered Users Posts: 8,085 ✭✭✭Xiney


    You are allowed to have savings, but they will be taken into account as means if over a certain amount.
    The capital value of property (except your own home), investments and savings will be assessed on a weekly basis as follows:
    First €5,000 is not taken into account
    Next €10,000 is assessed at €1 per €1,000
    Next €25,000 is assessed at €2 per €1,000
    Any capital over €40,000 is assessed at €4 per €1,000.

    From CitizensInformation.ie


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