Pension, early retirement due to illness, and social welfare

jmcm_music

I have a pension from my old company with Standard Life and have applied for access to the funds in the scheme due to illness. Standard Life have accepted the medical basis of my claim, and it looks good to get a good lump sum from the scheme.

The scheme is from my old company, I was a proprietary director, and I wound up the company in 2006 when I became ill.

Since then I have been on Disability Allowance from the Dept of Social Protection.

My question is : if I get a lump sum of e.g. 30,000 euro, how will it affect my social welfare payment. Will they take it as savings, or will they judge it as means?

I don't want to call Social Protection to ask them, because once I ask the question they will know what the situation is and it might put a spotlight on me. I really don't need the stress of that, even though I have nothing to hide.

danjo-xx

U can have up to 50k in savings and still get da full rate of DA 188pw

jmcm_music

That's what I thought. Thanks!

danjo-xx

Just to add that u are obligated to inform welfare of any change in ur circumstances and I suggest u do so on this occasion in ur own interests.

jmcm_music

Okay, got it! Thanks!