Helping out some friends, who are retiring this year, and they are planning the future.
Have given them the usual
Information on what to apply for :
Household Benefits Package, Fuel Allowance, State Contributory Pension.
Both will have full entitlement, to the “full rate” State Contributory Pension.
Question is, as only one of them, has a small private pension, likely to be approximately 8k per annum, does this mean that they will only receive one PAYE Tax credit ?
If they both get the PAYE Credit, they can earn €39,970, PAYE tax free, with the couple age related credits of €490 added, this drops by €8,875, to €31,095, if only one of them will get the PAYE tax credit.
My understanding is they will both get it, as they will have no other income other than state contributory pension and that modest private pension.