Wizard.I've also worked up an entitlement for a small contributory pension at the age of 66 and wish to apply for adult dependant allowance for my wife, she hasn't worked outside the home since we married. Is it only necessary to declare joint deposit accounts and what if I have sole accounts in my own name.
I'm drawing an occupational pension and this is our only source of income, is any of this pension taken into account in relation to means testing for adult dependant allowance.
Do pensions department look for evidence of investments and should copies accompany the pension application.
Wizzard
Gerry,
not sure you are totally correct. The Qualified Adult Dependant rate is means tested based on the income of the spouse. Included in that calculation is an income attributable to "Investments". If assets are held in joint names then 50% is attributable to the dependant spouse. And if the attributable income exceeds €100pw then the additional pension may be reduced. If income or attributable income exceeds €310 pw then no Dependants Pension is payable. My understanding is that the Dept use a graduated table of attributable income of circa €4 pw for every €1,000 over €20,000.
Conan.Gerry,
not sure you are totally correct. The Qualified Adult Dependant rate is means tested based on the income of the spouse. Included in that calculation is an income attributable to "Investments". If assets are held in joint names then 50% is attributable to the dependant spouse. And if the attributable income exceeds €100pw then the additional pension may be reduced. If income or attributable income exceeds €310 pw then no Dependants Pension is payable. My understanding is that the Dept use a graduated table of attributable income of circa €4 pw for every €1,000 over €20,000.
Thanks for that Brendan,Adult dependant
You can get an increase in your payment for an adult dependant (called a qualified adult).
Your income is not taken into account in the assessment for a Increase for a Qualified Adult. Any income your adult dependant has from employment, self-employment, savings, investments and capital (for example, any property except your own home) is taken into account. If you have joint savings or investments with your spouse, civil partner or cohabitant only half is taken into account.
If you are getting a State Pension (Contributory) the Increase for a Qualified Adult is automatically paid directly to your adult dependant. This only applies to applications for State pensions received by the Department on or after 27 September 2007.
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