Hi.
Hopefully a very quick question. My father will be applying for the contributory pension early next year. He has been working for over 40 years straight so no issues there. He will be applying for my mother as a qualified adult.
My question is around the savings limit for the means test. They have €60k between them in joint accounts.
My understanding is that based on SW calculations my mother owns €30k of this. The first €20k is disregarded and the next €10k is calculated at €1 per €1000 so technically gives her a weekly income of €10. As she is allowed earn upto €100 a week and still qualify for the full QA payment her savings amount is ok.
Is this correct or does the potential €10 a week mean her payment will be reduced by this amount?
Sorry if it's a simple question. Thanks very much.
Hopefully a very quick question. My father will be applying for the contributory pension early next year. He has been working for over 40 years straight so no issues there. He will be applying for my mother as a qualified adult.
My question is around the savings limit for the means test. They have €60k between them in joint accounts.
My understanding is that based on SW calculations my mother owns €30k of this. The first €20k is disregarded and the next €10k is calculated at €1 per €1000 so technically gives her a weekly income of €10. As she is allowed earn upto €100 a week and still qualify for the full QA payment her savings amount is ok.
Is this correct or does the potential €10 a week mean her payment will be reduced by this amount?
Sorry if it's a simple question. Thanks very much.