Receiving lump sum whilst on JSA.

M

mary newton

Registered User
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13
Hi,

My husband has been in and out of work for the past 4 years right right now claims JSA for me and 2 children.

I was in a farming accident some years ago and my case has just come up for hearing, my solicitor thinks I will receive a payment of approx 30K, I am wondering if this will affect our payment and by how much...should I lodge it to a joint account that we have or a personal account in my name, I just want to be above board on this.
 
Capital and property not personally used

Capital includes property (not your home), savings and investments.

If you own property (excluding your home) or you have investments or any other form of capital, the value is assessed, using a standard formula (see below) whether or not you are getting an income from the property or investment. If property is rented you will not be assessed on the actual income from the letting. Any outstanding mortgage registered against the property is deducted from the market value to find the capital value.

The property and investments that may be assessed include savings in a bank account (or anywhere else), a house that you have let and stocks and shares. If you or your spouse, civil partner or cohabitant saves a portion of your social welfare payment each week, these savings as well as savings from most other sources will be taken into account as part of your means.

The formula for assessing the value of capital including property (but not your own home), savings and investments is as follows:

Capital Weekly means assessed
First €20,000 Nil
Next €10,000 €1 per €1,000
Next €10,000 €2 per €1,000
Balance (€40,000 +) €4 per €1,000


So your 30k will be assessed as 10 euro a week means.(ie you lose 10 euro from your payment)
 
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