Savings for a qualified adult of a Contributory Pensioner is assessed as follows
Capital: Weekly means assessed
First €20,000 ..................................... Nil
€20,000 - €30,000 ........................... €1 per €1000
€30,000 - €40,000 ............................€2 per €1000
Over €40,000 .................................. €4 per €1000
Example
A Qa has €35,000 savings and no other income
Amount of savings .............................. €35,000
Minus first €20,000(disregarded) ............ €20,000
...................................................... €15,000
Balance is assessed as follows
€10,000 is assessed at €1 per €1,000 ..................... €10.00
€5,000 is assessed at €2 per €1,000 ....................... €10.00
Weekly means = .................................................. €20.00
The QA payment will only be reduced when the weekly means exceeds €100 (assuming no other income)
The savings of the QA in his/her own name plus 1/2 the savings in joint names is taken into account for the above calculation
Savings in the sole name of the pensioner do not affect the QA