SUSI application and ARF

[bestestimate]

Hello , Filling in the SUSI application here for my son and question pops up :

Did you receive a pension other than a Social Welfare State Pension in 2022?

I presume ARF withdrawals are taken in to account here ?

Thanks in advance.

 

[Gerry Dunne]

ARFs are not a pension. They are classed as self employment income. They attract prsi class S. If they are to be taken into account on the SUSI application it should be as self employment income.

 

[bestestimate]

Thanks Gerry

 

[NoRegretsCoyote]

ARFs are not a pension. They are classed as self employment income.

ARF withdrawals are indeed in layman’s terms a pension.

Whether they are classified as income or not for SUSI terms I don’t know.

But SUSI and tax treatment may not be the same.

 

[S class]

In DSP man's terms ARFs are treated as self employment income and are subject to 4% prsi at class S, to persons under age 66.

 

[Marsupial]

The full list of "What income is included in Reckonable Income" for SUSI purposes can be found at this link.

(There's also a pop down of the types of income which aren't reckonable.)

 

[Early Riser]

When conducting means assessment for Social Welfare Allowances the DSP considers ARFs as capital, and they are fully assessable on this basis. I would guess the same applies to SUSI.

!Approved Retirement Funds (ARFs) - including AMRFs which become ARFs when an individual reaches 75 years of age - are fully accessible to the customer. The funds are accordingly fully assessable on a capital basis for social welfare means purposes."

Operational Guidelines: Means Assessment

www.gov.ie