Social welfare means test

Woodnut06

Hi all,

I know that all property apart from private residence must be declared at market value when applying for many social welfare benefits.

My question is, must an increase in value in that property, be it a second house or stocks and shares be notified to social welfare?

I am aware of a case where Social welfare are claiming that there was substantial over-payment of Non-contrib. pension to a now deceased man and are demanding repayment of this amount from his estate.

The man declared the market value of shares when he applied for the pension, but in subsequent years the value of those shares increased, but the increased value was not declared.
The stock market is by its nature is volatile, so must each rise and fall in share value be notified?

Would be interested in any views on this.

splinter65

Woodnut06 wrote: »

Hi all,

I know that all property apart from private residence must be declared at market value when applying for many social welfare benefits.

My question is, must an increase in value in that property, be it a second house or stocks and shares be notified to social welfare?

I am aware of a case where Social welfare are claiming that there was substantial over-payment of Non-contrib. pension to a now deceased man and are demanding repayment of this amount from his estate.

The man declared the market value of shares when he applied for the pension, but in subsequent years the value of those shares increased, but the increased value was not declared.
The stock market is by its nature is volatile, so must each rise and fall in share value be notified?

Would be interested in any views on this.

What happens if I save some of my pension each week?
If you save a portion of your State Pension Non-Contributory each week, these savings will be taken into account as part of your means. Depending on the amount of savings you accumulate, this may result in a reduction in (or revocation of) your pension.

You are legally obliged to notify the department within three months of any increase in your means.

From the Operational Guidelines

https://www.gov.ie/en/publication/66ac9a-operational-guidelines-state-pension-non-contributory/#what-happens-if-i-save-some-of-my-pension-each-week

lughildanach

Woodnut06 wrote: »

Hi all,

I know that all property apart from private residence must be declared at market value when applying for many social welfare benefits.

My question is, must an increase in value in that property, be it a second house or stocks and shares be notified to social welfare?

I am aware of a case where Social welfare are claiming that there was substantial over-payment of Non-contrib. pension to a now deceased man and are demanding repayment of this amount from his estate.

The man declared the market value of shares when he applied for the pension, but in subsequent years the value of those shares increased, but the increased value was not declared.
The stock market is by its nature is volatile, so must each rise and fall in share value be notified?

Would be interested in any views on this.

Strictly speaking every change of circumstances must be notified. However, they should be reasonable when considering this. If it was small increases over time, it would be rather harsh to hit someone with an overpayment, but I suspect they are probably larger if they have resulted in a substantial overpayment.

If a revised decision has issued on the pension, this can be appealed. Even if the decision is technically accurate, the deciding officer (or appeals officer) has the discretion not to backdate the decision, and therefore can reduce or eliminate any overpayment.

Aware2019

I know of a case where shares were bought during the year but not told to social welfare. I suspect also shares were not declared when she initially got social welfare payment, though I have no proof. Would she not have been checked for this by the welfare?  i don't know this person well enough to know for sure, I think she would be better off to declare it, might say it to her but not sure if my place. I can always report it, just annoys me that people get away with this kind of thing.

lughildanach

Aware2019 wrote: »

I know of a case where shares were bought during the year but not told to social welfare. I suspect also shares were not declared when she initially got social welfare payment, though I have no proof. Would she not have been checked for this by the welfare?  i don't know this person well enough to know for sure, I think she would be better off to declare it, might say it to her but not sure if my place. I can always report it, just annoys me that people get away with this kind of thing.

Depends on what social welfare payment she was on. Some payments are not means tested and the ones with means tests have significant amounts that you can have without it affecting your payment. First 20k doesn't affect most means tested payments. I wouldn't jump to assume someone has been defrauding the system, especially if you don't know their full circumstances.