Entitlements and Money

SocialWarfare

Hi all, here is our dilemma, my partner and I have been unemployed for the last 1.5yrs, I was in construction and she worked with the elderly. Since then we have had to move into accommodation where we are claiming rent allowance instead of paying our own way.
Anyway here this is, we recently won the lotto "€200,000" and are thinking of buying our own place so we no longer have to claim rent allowance and so on.
Since we both are unemployed at this moment "unfortunately" will we still be able to claim social welfare until things pick up for us or because we will own a home will everything be gone meaning we might own our own home but wont have a penny between us
Advice would be greatly appreciated please

sophia25

If you're unemployed over a year you are now on a means tested payment. You definitely no longer qualify for rent supplement and your sw payment will be reduced substantially. I trust you have declared your winnings?

SocialWarfare

We have not yet received any money to declare, I was not asking if we were still entitled to rent allowance anyway:rolleyes:
What I am asking is if after buying a home will we be entitled to social welfare? 200,000 is not life changing as after buying a home we will be left with basically nothing

mp22

Yes you will be able to claim after you buy a house.

edellc

When means tested I think its 20k that you are allowed to have in the bank as savings once its over that the amount you receive from sw is greatly reduced.

So I think what would happen is once you receive the 200k you need to declare it, you will be means tested again (probably getting nothing) then you go look for your house and buy it, this takes time as you should know...once you have paid for the house in full, you reapply for your claim with the swo...as you will be means tested again due to not working the past year and a half it will depend on how much money you have left over in your bank account that will result in your claim being successful or not.

Heres the link

http://www.citizensinformation.ie/en/social_welfare/irish_social_welfare_system/means_test_for_social_welfare_payments/means_test_for_jobseekers_allowance.html

scroll down just before half way there is a chart there which explains it for you

pontia

this is a windup,do you think you should get taxpayers money with 200k in the bank ? cop on

username123

edellc wrote: »

When means tested I think its 20k that you are allowed to have in the bank as savings once its over that the amount you receive from sw is greatly reduced.

So I think what would happen is once you receive the 200k you need to declare it, you will be means tested again (probably getting nothing) then you go look for your house and buy it, this takes time as you should know...once you have paid for the house in full, you reapply for your claim with the swo...as you will be means tested again due to not working the past year and a half it will depend on how much money you have left over in your bank account that will result in your claim being successful or not.

Heres the link

http://www.citizensinformation.ie/en/social_welfare/irish_social_welfare_system/means_test_for_social_welfare_payments/means_test_for_jobseekers_allowance.html

scroll down just before half way there is a chart there which explains it for you

If you get means tested and there is 200k in the bank and then some time later you get means tested and you have bought a house and there is no money in the bank the social welfare deciding officer may decide you have used the money in such a way as to qualify for a social welfare payment and you may still be refused.

My JSB ran out and I failed the means test for JSA due to savings. I asked if I used some of the savings to pay off my mortgage could I reapply for the means tested payment and was told the above. Actually, 'told' is putting it mildly - I was more or less accused of thinking up ways to scam the system.

yellowlabrador

I understand it can be scary to become fully independent without a regular amount of money coming in. If you buy a house, you have an asset, it's then unfair that the state would support you and you remain dependent. The lottery will give you advice.
Maybe you could invest in a business instead and make the money work for you.
Both you and your partner have skills and can now look forward to a brighter future. Good luck with your money

StillWaters

Congratulations! I agree that you should get financial advice, I'm sure the Lottery must have people in place. This money CAN be life changing for you. I know buying a house is very tempting for security, but you could use it in a way to make you independent for life, maybe a smaller house, and a joint business?

username123

yellowlabrador wrote: »

I understand it can be scary to become fully independent without a regular amount of money coming in. If you buy a house, you have an asset, it's then unfair that the state would support you and you remain dependent. The lottery will give you advice.
Maybe you could invest in a business instead and make the money work for you.
Both you and your partner have skills and can now look forward to a brighter future. Good luck with your money

The family home is not seen as an asset by social welfare though, nor should it be. The state is providing rent allowance which would be no longer necessary if the OP bought a home. But OP does run the risk of a snotty deciding officer and because its a subjective decision it could be yes or no.