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Means Testing on Retirement Fund

  • 22-09-2011 12:40pm
    #1
    vedwards
    Registered Users, Registered Users 2 Posts: 244 ✭✭


    Hi, I was recently made redundant (never claimed in my life before) and now on JSB. I was part of a group retirement scheme with the company. I'm 50+ and no signs of employment on the horizon. I've received statuary redundancy but now I have several options with my pension plan. The one I'm in favour of is 'grab it and run' as it's lost a few grand this year already and has been in decline since the bust. Also I believe that the company won't last much longer and will fold.
    How will this affect my social welfare benefit if I take the lump sum?

    Thanks in advance.


Comments

  • #2
    practice
    Registered Users, Registered Users 2 Posts: 304 ✭✭practice


    Should not affect JSB which will last 9 Months.
    When transferring to JSA savings over 20,000 are taken into account.
    There is some formula they use dont know what it is tho.


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