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Getting Job seekers allowance after back to education allowance

  • 13-05-2010 1:32pm
    #1
    anonanon
    Registered Users, Registered Users 2 Posts: 36 ✭


    Hi,I'll be finished my first year studies in college this week,and i am currently receiving the back to education alowance. Before i started my course i was on my final week of jobseekers benefit.

    I will now have to apply for jobseekers allowance..I currently have approx 10k in a bank account.

    Will having this money affect my entitlement to jobseekers allowance??
    Any help will be appreciated


Comments

  • #2
    dsmythy
    Registered Users, Registered Users 2 Posts: 10,528 ✭✭✭✭dsmythy


    I'm not certain so wait to hear form someone else here but i think you can have up to 20k in your account and still be fully eligible.


  • #3
    anonanon
    Registered Users, Registered Users 2 Posts: 36 ✭anonanon


    thanks, can anyone confirm that please?


  • #4
    Balagan
    Registered Users, Registered Users 2 Posts: 2,168 ✭✭✭Balagan


    Capital and property not personally used

    Capital includes property (not your home), savings and investments.

    If you own property (excluding your home) or you have investments or any other form of capital, the value is assessed, using a standard formula (see below) whether or not you are getting an income from the property or investment.

    The property and investments that may be assessed include savings in a bank account (or anywhere else), a house that you have let and stocks and shares. If you or your spouse or partner saves a portion of your social welfare payment each week, these savings as well as savings from most other sources will be taken into account as part of your means.

    The formula for assessing the value of capital including property (but not your own home), savings and investments is as follows:
    Capital Weekly means assessed
    First €20,000 Nil
    Next €10,000 €1 per €1,000
    Next €10,000 €2 per €1,000
    Balance (€40,000 +) €4 per €1,000

    from http://www.citizensinformation.ie/categories/social-welfare/irish-social-welfare-system/means-test-for-social-welfare-payments/means-test-for-jobseekers-allowance


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