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Means Test: FIS

  • 07-09-2017 5:20pm
    #1
    Phil1969
    Registered Users, Registered Users 2 Posts: 240 ✭✭


    Hi Guys,

    Can someone confirm what the means test is for FIS when it comes to savings and owning your own home?

    Thanks


Comments

  • #2
    Plugguy
    Registered Users, Registered Users 2 Posts: 126 ✭✭Plugguy


    The following was taken from: https://www.welfare.ie/en/Pages/Family-Income-Supplement.aspx scroll down until you see the heading 'Income from any other source'


    Income from any other source is calculated by the normal weekly amount of such income.

    Note: Rental Income is the amount the tenants pay. The only deductions/disregards from Weekly Family Income are those listed above.

    Social Welfare legislation does not allow for the disregard from Weekly Family Income of expenditure on capital improvements or paying the mortgage(s) on your primary or secondary residences, management fees or expenditure on weekly groceries.

    However, unlike other Social Welfare schemes which are Means-Tested, FIS is an income supplement and is an Income-Tested scheme.

    Capital assessments are not carried out.

    This means that Savings in the Bank / Post Office / Credit Union and the capital value of property/assets owned are not assessed.


  • #3
    Phil1969
    Registered Users, Registered Users 2 Posts: 240 ✭✭Phil1969


    Plugguy wrote: »
    The following was taken from: https://www.welfare.ie/en/Pages/Family-Income-Supplement.aspx scroll down until you see the heading 'Income from any other source'


    Income from any other source is calculated by the normal weekly amount of such income.

    Note: Rental Income is the amount the tenants pay. The only deductions/disregards from Weekly Family Income are those listed above.

    Social Welfare legislation does not allow for the disregard from Weekly Family Income of expenditure on capital improvements or paying the mortgage(s) on your primary or secondary residences, management fees or expenditure on weekly groceries.

    However, unlike other Social Welfare schemes which are Means-Tested, FIS is an income supplement and is an Income-Tested scheme.

    Capital assessments are not carried out.

    This means that Savings in the Bank / Post Office / Credit Union and the capital value of property/assets owned are not assessed.

    Thanks Plugguy, for the confirmation, I got myself confused as I had read some people saying it was mean tested and others said it wasn't so got a bit confusing. Thanks


  • #4
    Plugguy
    Registered Users, Registered Users 2 Posts: 126 ✭✭Plugguy


    Phil1969 wrote: »
    Thanks Plugguy, for the confirmation, I got myself confused as I had read some people saying it was mean tested and others said it wasn't so got a bit confusing. Thanks

    You're welcome Phil1969.


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