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Welfare and savings

  • 21-04-2010 9:51pm
    #1
    jack888
    Registered Users, Registered Users 2 Posts: 168 ✭✭


    Hi,

    I am currently on the dole, I was made redundant one month ago. I receive 196 euro a week.

    I have about 20k in savings which I was going to move to a savings account in the post office as they offer the best interest. Is this a bad idea, might this affect my dole payments?.

    Thanks


Comments

  • #2
    The_Conductor
    Moderators, Society & Culture Moderators Posts: 32,286 Mod ✭✭✭✭The_Conductor


    jack888 wrote: »
    Hi,

    I am currently on the dole, I was made redundant one month ago. I receive 196 euro a week.

    I have about 20k in savings which I was going to move to a savings account in the post office as they offer the best interest. Is this a bad idea, might this affect my dole payments?.

    Thanks

    Your savings will not affect your Job seekers benefit (which accrues if you have sufficient PRSI stamps)- they would however effect the means tested Job seekers allowance.

    You may find this helpful.


  • #3
    blossom180
    Registered Users, Registered Users 2 Posts: 468 ✭✭blossom180


    jack888 wrote: »
    Hi,

    I am currently on the dole, I was made redundant one month ago. I receive 196 euro a week.

    I have about 20k in savings which I was going to move to a savings account in the post office as they offer the best interest. Is this a bad idea, might this affect my dole payments?.

    Thanks
    you are allowed have 20k in your account and it will not affect your dole payments.as for where you invest shop around.best of luck.


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