Company director retired at 61, applying for jobseekers benefit.

So I've done it, pushed the button, received my last paycheck and stopped working. ( I actually stopped a year ago but I was still on payroll while things got wrapped up )I've sold my share of my company and taken retirement relief, all through our accountant. I'm 61. My question is about my entitlement to job seekers benefit as I've left employment. Do I engage with that process immediately? And can I do that online? I've no desire to return to work . Can I expect some grief with my application?, i.e. will they be wanting me to do courses or otherwise?? Downside is that I'll only have 1633 reckonable prsi contributions for state pension later. Any advice regarding improving that would be gratefully received.

See this thread: https://www.askaboutmoney.com/threads/job-seekers-benefit-after-retiring.229959/

Anything useful here?


Bear in mind that your JB entitlement will run out after about 9 months unless you earn some additional PRSI contributions to "refresh" your entitlement.

Do you have a mygov account ?
If not apply online to open one.
When you have a mygov account you can log on to mywelfare and apply online immediately for Jobseekers Benefit.

It is important to apply immediately after ceasing employment if you have any other income from rental or investments. This income must meet the rules for subsidiary employment.

When applying don't state that you are retired.
State that you have ceased work for health reasons or because of the need for a change in career path. If you state that you just retired your claim can be refused for a period of 9 weeks.

You might be asked to provide evidence of seeking new employment.
You could apply online for a few jobs and show these applications as evidence if necessary.

You must state that you are available for work.
Provided you are resident in the state and not otherwise committed e.g. full time carer, you can agree to this requirement.
It's unlikely that you will be persued to take part in training at age 61.
Provided you are agreeable to the above you won't have any grief.

You can continue to sign on for Jobseekers credits after your JB payments end, up to the date you claim the Contributory Pension. These credits are Reckonable for state pension.

If you remain signed on for Jobseekers credits you will have a chance to qualify for Benefit Payment 65. You would need a period of 13 weeks paid class A employment in any calendar year from age 61 to 65 to qualify.

S class said:

Do you have a mygov account ?
If not apply online to open one.
When you have a mygov account you can log on to mywelfare and apply online immediately for Jobseekers Benefit.

It is important to apply immediately after ceasing employment if you have any other income from rental or investments. This income must meet the rules for subsidiary employment.

When applying don't state that you are retired.
State that you have ceased work for health reasons or because of the need for a change in career path. If you state that you just retired your claim can be refused for a period of 9 weeks.

You might be asked to provide evidence of seeking new employment.
You could apply online for a few jobs and show these applications as evidence if necessary.

You must state that you are available for work.
Provided you are resident in the state and not otherwise committed e.g. full time carer, you can agree to this requirement.
It's unlikely that you will be persued to take part in training at age 61.
Provided you are agreeable to the above you won't have any grief.

You can continue to sign on for Jobseekers credits after your JB payments end, up to the date you claim the Contributory Pension. These credits are Reckonable for state pension.

If you remain signed on for Jobseekers credits you will have a chance to qualify for Benefit Payment 65. You would need a period of 13 weeks paid class A employment in any calender year from age 61 to 65 to qualify.

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Not sure this is correct. I was advised that there is a qualifying year requirement, as part of the eligibility process for Benefit Payment 65, where you need to have at least 13 weeks of PAID class A employment in the relevant qualifying year which is 2 years before the year you become 65 ( 65 in 2027 therefore qualifying year is 2025). I also believe that you can make 13 voluntary paid contributions instead as an alternative.

Thanks all. Lots of useful info. I've got a myGov account and I'm in the middle of application. Seriously though, it's like an audit. The detail required of accounts and investments. Really ?? For jobseekers ? Surely its not means tested?Although I've no other income, my wife is still in secure public service well-paid employment till she'll retire in 18 mths. We don't own any additional property or have rental income etc, but we do have additional accounts with significant balances and I've an ETF portfolio with significant balance. I've also got a well funded Exec Pension fund which I don't intend to access anytime soon. When I shine a light on all this it's not a good look for a benefit payment. I'm reminding myself that AAM stands for Ask About Money and not Ask About Morality. Anyway, thanks again

I just filled in the savings I had and skipped over the rest as it disqualified me from means tested anyway. As per above, you are expected to look for work but they'll not push too hard. You will be called in by a 'Career guidance' person for an informal interview and just answer smartly that you hope to try and get a job soon. Assuming you have a few bob, after 9 months just request to sign on for stamps only. This will give you the 52 class A stamps till 66.

NotMyRealName said:

Thanks all. Lots of useful info. I've got a myGov account and I'm in the middle of application. Seriously though, it's like an audit. The detail required of accounts and investments. Really ?? For jobseekers ? Surely its not means tested?Although I've no other income, my wife is still in secure public service well-paid employment till she'll retire in 18 mths. We don't own any additional property or have rental income etc, but we do have additional accounts with significant balances and I've an ETF portfolio with significant balance. I've also got a well funded Exec Pension fund which I don't intend to access anytime soon. When I shine a light on all this it's not a good look for a benefit payment. I'm reminding myself that AAM stands for Ask About Money and not Ask About Morality. Anyway, thanks again

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DSP use the same paper form for both JB and JA so, presumably, the same applies to the online application. It's a complete pain in the neck for any applicant in a situation where they already know that they're not eligible for JA.

NotMyRealName said:

Thanks all. Lots of useful info. I've got a myGov account and I'm in the middle of application. Seriously though, it's like an audit. The detail required of accounts and investments. Really ?? For jobseekers ? Surely its not means tested?Although I've no other income, my wife is still in secure public service well-paid employment till she'll retire in 18 mths. We don't own any additional property or have rental income etc, but we do have additional accounts with significant balances and I've an ETF portfolio with significant balance. I've also got a well funded Exec Pension fund which I don't intend to access anytime soon. When I shine a light on all this it's not a good look for a benefit payment.

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They collect all information up front in case you also qualify for some means tested payment. Benefits are PRSI linked and not means tested. There's nothing nefarious about the application process.

NotMyRealName said:

I'm reminding myself that AAM stands for Ask About Money and not Ask About Morality.

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Huh?

LL???? said:

Not sure this is correct. I was advised that there is a qualifying year requirement, as part of the eligibility process for Benefit Payment 65, where you need to have at least 13 weeks of PAID class A employment in the relevant qualifying year which is 2 years before the year you become 65 ( 65 in 2027 therefore qualifying year is 2025). I also believe that you can make 13 voluntary paid contributions instead as an alternative.

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The 13 paid class A don't necessarily have to be in the governing year. They can be any of the years I previously stated.
Voluntary contributions won't be accepted for qualification for Benefit Payment 65.

S class said:

The 13 paid class A don't necessarily have to be in the governing year. They can be any of the years I previously stated.
Voluntary contributions won't be accepted for qualification for Benefit Payment 65.

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Apologies, on further investigation you're spot on re the 13 paid class A contributions and thanks for the clarity re voluntary contributions.

To be fair @S class is usually 100% on the ball with such PRSI/SW related queries. Great contributor!