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Pensioners savings limit q

  • 24-01-2013 9:41pm
    #1
    zagamuffin
    Registered Users, Registered Users 2 Posts: 164 ✭✭


    Can anyone tell me what the limit if any is their on my fathers savings in regard to his government pension.....


Comments

  • #2
    amtw
    Registered Users, Registered Users 2 Posts: 274 ✭✭amtw


    If your father is in receipt of a state Contributory Pension which means that he worked and had sufficient PPRSI contributions to qualify for a pension then there is no limit to the amount of saving he can have as it doesn't affect his pension. If he is claiming an increase for a qualifed adult (his spouse/partner) who has no entitlement to a payment in their own right (they have no or insufficient PRSI contributions) then the savings/capitol of the qualified adult will affect the amount of money he receives for that person.

    If he is on a non-contributory pension then his own and his spouse/partners savings and capitol will affect his entitlement to a pension. Here is the link if you want to find out how it is calculated.
    http://www.citizensinformation.ie/en/social_welfare/social_welfare_payments/older_and_retired_people/state_pension_non_contributory.html


  • #3
    danjo-xx
    Registered Users, Registered Users 2 Posts: 5,395 ✭✭✭danjo-xx


    amtw wrote: »
    If he is claiming an increase for a qualifed adult (his spouse/partner) who has no entitlement to a payment in their own right (they have no or insufficient PRSI contributions) then the savings/capitol of the qualified adult will affect the amount of money he receives for that person.


    How is the means of the Qualified Adult determined, if the spouse or partner is not also means tested, as surely they could just dump some savings into the spouse/partner's account and claim to have no savings.:confused:


  • #4
    amtw
    Registered Users, Registered Users 2 Posts: 274 ✭✭amtw


    danjo-xx wrote: »
    How is the means of the Qualified Adult determined, if the spouse or partner is not also means tested, as surely they could just dump some savings into the spouse/partner's account and claim to have no savings.:confused:
    Yeah that has been done, but if the department think that anyone has done anything with the sole intention of getting a social welfare payment they can refuse to make a payment.


  • #5
    OldNotWIse
    Closed Accounts Posts: 12,468 ✭✭✭✭OldNotWIse


    Apologies if this is in the wrong place, goggle eyed trying to find an approporiate thread thats not old (dont want to bump) but just a query I had as I was looking on welfare.ie, trying to assess what Dad's pension will be when he retires later this year. It would seem that the non contributory pension with an increase for a qualified adult is near enough the same as a contributory one for someone who has paid the full 48 contributions? What makes it worse is that (for someone like my dad) who has more than 1500 contributions but only an average of 37 per year he will get less (potentially) than someone who has in short...contributed nothing. It seems a little unfair, maybe I'm mixed up. Can anyone shed any light?


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