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Benefits and savings

  • 13-07-2016 1:42pm
    #1
    LegacyUser
    Registered Users, Registered Users 2 Posts: 166,026 ✭✭✭✭


    Someone I know is getting JSA. They previously had savings of about €19K. They could be coming into an extra €23K soon. They have no other capital such as property or any other income except for the small interest generated from the savings.

    Am I correct that with their total savings of about €42K their JSA would be reduced by €42 (according to the formula on the welfare site) but that they would retain their medical card as they would have a means of merely €7 (according to the formula on the welfare site)?

    Thanks.


Comments

  • #2
    CIARAN_BOYLE
    Registered Users, Registered Users 2 Posts: 14,599 ✭✭✭✭CIARAN_BOYLE


    StudiousRob wrote: »
    Someone I know is getting JSA. They previously had savings of about €19K. They could be coming into an extra €23K soon. They have no other capital such as property or any other income except for the small interest generated from the savings.

    Am I correct that with their total savings of about €42K their JSA would be reduced by €42 (according to the formula on the welfare site) but that they would retain their medical card as they would have a means of merely €7 (according to the formula on the welfare site)?

    Thanks.

    €38 by my reading


  • #3
    myappeal
    Registered Users, Registered Users 2 Posts: 63 ✭✭myappeal


    Hi StudiousRob,

    Jobseekers Allowance:

    First €20,000 disregarded
    Next €10,000 at €1 per 000
    Next €10,000 at €2 per 000
    Remainder at €4,000 per 000


    €42,000 capital (excluding anything else)

    = 20,000 = 0
    = next 10,000 = 10
    = next 10,000 = 20
    = balance 2,000 = 8

    Total Assessed = €38


    Medical Card:

    First €36,000 disregarded
    Next €10,000 at €1 per 000
    Next €10,000 at €2 per 000
    Remainder at €4,000 per 000


    €42,000 capital (excluding anything else)

    = 36,000 = 0
    = next 6,000 = 6


    Total Assessed = €6


    REMEMBER - if capital is used, update both Social Welfare and Medical Card Section. This can affect the accessible means.

    Regards,



    Regards,


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