Increase for qualified adult.

S

Spencer

Registered User
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Would an early retired person aged 63 with a pension of approx. €13,250 p/a and savings of approx €47 k be entitled to any increase for qualified adult when his wife gets her state contributory pension which is due shortly.
If the answer is yes any idea how much.
I had a look at the DSP site but confused.
Thanks
 
It appears this person would have income barely above the cut off point.

€13250 = €254 weekly
€47K savings = €58 "
Total income = €312 " Cut off point for dependent increase = €310

Savings calculated as follows:-
First €20,000 - disregarded
Next €10,000 - @ €1 per €1,000 =€10 p.w
Next €10,000 - @ €2 per €1,000 =€20 p.w
Next €7,000 - @ €4 per €1,000 =€28 p.w
_______ _____
€47,000 =€58 p.w + Pension €254 p.w = €312
 
Thank you for your reply.
Very close to qualifying..
One further piece of information.
The couple have their savings in one account in his name...for handiness... Does this have any effect on the calculation..
Thanks.
 
In the above calculation I have assumed that wife is entitled to the full rate of pension and husband is dependent adult with savings.

If the savings were wholly owned by the wife then the situation changes. Husbands sole income is €13250 or €254p.w. Therefore his entitlement to dependent rate would be €38.80 p.w up to age 66 and €52 p.w. thereafter

Wife would also be entitled to Household Benefit (Electricity & TV Lic.)as husband is dependent.
Fuel allowance may also be available subject to a seperate means test. (if wife has no or little other income or savings)
 
Hi

I know this is an old post, but is relevant to my query.

Are savings for the purpose of the calculation of Qualified Adult (Contributory Pension) jointly assessed, regardless of whether the savings accounts are jointly held or in the name of one person?

Thanks in advance

Bedlam
 
Savings for the purpose of the calculation of QA are jointly assessed if they are jointly owned. In that case half the savings are deemed as owned by the dependant (QA) and will be assessed.

If savings are totally in the pensioner's name, then savings will not be assessed against the dependant (QA)
 
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