Old Age Non Contributory Pension - advice

Wicklow Will

Hi, does anyone know what effect moving to live in a "granny flat" on your son's property would have for the recipient of an old age non-contributory pension? I've looked at the info on the Citizens Advice website and whilst informative doesn't exactly answer my particular situation: I would be selling my house and putting the proceeds towards constructing the "Granny flat". I'm worried that selling my home and moving so close to them would mean I would make myself ineligible to continue receiving my OAP Non-contrib pension. It's the only source of income I have having been self-employed all my life in a business that went bust 11 years ago. I'm 79 this year and don't want to live so far away from him and his family anymore (they live 3 hours drive from me) hence their suggestion to sell up and live with them.

wellieboot

Taken from welfare.ie

Income from property personally used (your home)

The value of the house you live in is not taken into account in the means test. However, any income you are getting from it is taken into account. For example, if you rented a room in your house, that income is assessed. There is an exception to this, if not renting the room means that you would be living alone then your income from rent is not taken into account.
Selling your home
If you sell your home, the proceeds of the sale would normally be taken into account as means. If you are living in accommodation which no longer suits you or which you are no longer able to maintain, you may be able to sell your home and move to more suitable accommodation and have up to €190,500 of the proceeds of the sale excluded from the means test. This exemption of €190,500 applies if you sell your house in order to:

• Buy or rent more suitable alternative accommodation
• Move into a private nursing home which is registered under the Health (Nursing Homes) Act 1990
• Move in with a person who is getting a carer's payment to care for you
• Move to sheltered or special housing in the voluntary, co-operative, statutory or private sectors

Usually the first €190,500 of the sale proceeds is not taken into account. However, if you use the proceeds of the sale to buy more suitable accommodation, the balance of the proceeds after buying the new accommodation is exempt up to a limit of €190,500.

Spear

Try Insurance and Pensions instead:

http://www.boards.ie/vbulletin/forumdisplay.php?f=544