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whats the max amount that you can have in the bank for JSA?

  • 29-03-2011 7:37pm
    #1
    letsallgotothe
    Closed Accounts Posts: 71 ✭✭


    I seem to recall that the welfare office will reject a claim for JSA if your account balance is over a certain number-anyone know what im talking about?


Comments

  • #2
    shoegirl
    Registered Users, Registered Users 2 Posts: 2,029 ✭✭✭shoegirl


    If you have over 20,000 they count every 1000 euros after that as 1 euro per week in means.

    In other words if you have 100k in the bank, they'd regard you as having 80 euro per week means.

    I might be wrong in guessing this but if you have 100k in the bank and interest is 5% you'd be getting close to that per week in interest which is why savings are considered to be means.


  • #3
    Balagan
    Registered Users, Registered Users 2 Posts: 2,168 ✭✭✭Balagan


    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


    If you have a joint account with your spouse, civil partner or cohabitant, legally the total amount in the account is owned by each of you. Therefore it can be assessed in full against each of you. However, if you are both getting means-tested payments it will be assessed on a shared basis or against only one of you.

    For example
    If you have €55,000 savings:

    The first €20,000 is assessed as nil, €20,000 to €30,000 is assessed as €10, €30,000 to €40,000 is assessed as €20, €40,000 and €55,000 is assessed as €60.

    €10 + €20 + €60 = €90

    Savings of €55,000 gives a means of €90 per week.
    http://www.citizensinformation.ie/en/social_welfare/irish_social_welfare_system/means_test_for_social_welfare_payments/means_test_for_jobseekers_allowance.html


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