State benefit payment at 65

[S class]

Just to clarify it's the calendar year of your 61st birthday. At age 60 you enter your 61st year, this year doesn't count.

So providing you have 13 paid class A in the calendar year in which your 61st birthday falls and you have at least 39 credits in the calendar year in which your 63rd birthday falls you will qualify.

Operational Guidelines: Benefit Payment for 65 Year Olds

www.gov.ie

The relevant tax year is the same as the governing year. This is the calender year in which your 63rd birthday falls. So the two years before this are the calender years in which your 61st and 62nd birthdays fall



"If a person does not have 13 paid contributions in the Governing Contribution Year (GCY) they must have the 13 contributions paid in any one of the following years

The two tax years before the relevant tax year

The last complete tax year

Or

The current tax year"


I don't know if you would be allowed to split rental income that way.
If your wife is joint owner the rent might have to split 50 / 50.

 

[Kev1964]

Just to clarify it's the calendar year of your 61st birthday. At age 60 you enter your 61st year, this year doesn't count.

So providing you have 13 paid class A in the calendar year in which your 61st birthday falls and you have at least 39 credits in the calendar year in which your 63rd birthday falls you will qualify.

Operational Guidelines: Benefit Payment for 65 Year Olds

www.gov.ie

The relevant tax year is the same as the governing year. This is the calender year in which your 63rd birthday falls. So the two years before this are the calender years in which your 61st and 62nd birthdays fall



"If a person does not have 13 paid contributions in the Governing Contribution Year (GCY) they must have the 13 contributions paid in any one of the following years

The two tax years before the relevant tax year

The last complete tax year

Or

The current tax year"


I don't know if you would be allowed to split rental income that way.
If your wife is joint owner the rent might have to split 50 / 50.

Thanks again for your prompt response.

The reason I'm still considering this is your previous post which suggested that I could disqualify myself from being eligible if I have rental income in excess of €7500.

Perhaps I should have been clearer on the question that prompted that reply.

In the tax year that I become 61, I plan to have 13 paid class A stamps. I also expect to have the 39 credits in the tax year when I hit 63. I will be signing on annually at that stage for credits (I hope).

In the tax year that I become age 62, I expect to have rental income. The amount is to be established (noting your point about the ratio).

So my (rephrased) question is, given the circumstances above, will earning rental income of any amount in the tax year that I become age 62, undo the (part) eligibility built up in the previous tax year?

 

[S class]

The rental income will only be a problem in the year of your 65th and 66th birthdays.
It won't matter how much rental income you might have in previous years.

If you have less than 7500 in both of these years you should be okay to qualify.

I am only guessing about how the rental income could be divided.
Maybe ask a separate question about this to see if any tax experts reply.

 

[S class]

The reason I'm still considering this is your previous post which suggested that I could disqualify myself from being eligible if I have rental income in excess of €7500.

I might have confused you with my previous answer. Having any amount of rental income in years before your 65th birthday will not disqualify you.

The rental income is considered as employment. It's only in the years that you would actually be claiming BP65 that you need to have ceased any employment over 7500 euro i.e. rental over 7500 euro.

 

[Flybytheseat]

I might have confused you with my previous answer. Having any amount of rental income in years before your 65th birthday will not disqualify you.

The rental income is considered as employment. It's only in the years that you would actually be claiming BP65 that you need to have ceased any employment over 7500 euro i.e. rental over 7500 euro.

Does this also appy to ARF income ? Is that also considered as employment income for the 7500 euro limit ?

 

[S class]

ARF income is not considered as employment for qualification for BP65

Benefit Payment at 65

Up to recently, there was an anomaly concerning the payment of the Benefit Payment at 65, a payment for 65 year olds who have retired, prior to applying for their State Contributory Pension at 66. The anomaly was this -...

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