Thanks both for the reply. It makes sense, but I'm still reading between the lines a bit as to what amount they mean when they say "depending on the amount of savings you accumulate". I just can't see an explicit reference on gov.ie to a figure anywhere when talking about subsequent savings/change of circumstances - I'm guessing it's that 20k + figure set out in the (initial) means test?
Thanks again (I'd give your post a 'thumbs up', but I can't seem to find that function here!).The wording on all matters relating to pensions and Prsi tends to be vague and open to interpretation.
Provided the savings are below 20k, there is no consequence on the means test.
If amounts below this are notified there will be no reduction of the pension, so there is no penalty in not declaring it.
The means test looks pretty clear to me....Thanks again (I'd give your post a 'thumbs up', but I can't seem to find that function here!).
His savings have exceeded the 20k at this point, so I can only assume this is the point at which their notified - i.e. the same figure as per the initial means test figures set out in the info. It's just that when they word things like "Depending on the amount of savings you accumulate", or "if the combined value of your savings...increases..." but no figures are included/repeated, then I'd prefer to be able to see what amounts or increases they mean exactly, rather than assuming.
The DSP haven't been directly notified of this (yet), but they were indirectly informed when we sent them the latest UK pension figure he receives i.e. his bank account with current balance was included as proof of the payments.
Thanks
See this page from Citizens Information. Under the heading "Capital" it explains what deductions are made if someone goes over the €20k.
Thanks both. I'm clear on those figures and accessed those documents (and he went through that means test years ago when first being assessed) - it was just a case of trying to clarify/confirm the current situation i.e. if those same figures and calculations apply to the build up over many years of his UK pension into his bank account...which it seems is the case.The means test looks pretty clear to me....
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