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Queston about over 25's

  • 13-12-2011 10:51pm
    #1
    toshy321
    Registered Users, Registered Users 2 Posts: 163 ✭✭


    Currently getting 130 euro weekly (jsa) as I was means tested.
    I have shares in credit union and also live at home and both parents are working I recently turned 25 and as far as I knew I would be receiving full amount of job seekers allowance as I'm 25 but enquired about this and they said your still means tested on your capital(ie credit union shares). Anybody any more knowledge on this thanks in advance of any replies.


Comments

  • #2
    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

    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


  • #3
    tenchi-fan
    Closed Accounts Posts: 3,339 ✭✭✭tenchi-fan


    toshy321 wrote: »
    I recently turned 25 and as far as I knew I would be receiving full amount of job seekers allowance as I'm 25 but enquired about this and they said your still means tested on your capital(ie credit union shares).

    Yes. Job Seekers Allowance is means tested and currently you have the means to support yourself.

    While you're no longer means tested on your parent's income and capital, you're still means tested on your own income and capital.

    However, if you are eligible to claims Job Seekers Benefit (by having paid contributions in the relevant tax year) you may be entitled to the full adult rate of JSB. Unlikely if you've been out of work for a few years.


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