Unemployment Assistance Means Test and Investments

[PaoloZ]

I Invested 40,000 last year in some investments that can not be cashed in for 3 years minimum.
Money came from cashing in insurance policy which i had always looked upon as retirement
fund. I am single man aged 48 & There is a possibility of losing my job which i have held
for many years due to a mistake. If this happens i may find it difficult to find new job.

I will be able to claim Unemployment benefit for full term.
My question is about Unemployment assistance means test which takes Investment
as Means. Will Social Welfare reduce amount payable due to these investments
which i have no way of cashing in for some years yet?
This would leave very little to live on so what are options?

 

[gipimann]

Have a look at section (e) under Capital on the above page, which deals with trust funds, pension funds, and how they are assessed.

Your investments may be treated the same way, especially as you invested them prior to the possibility of losing your job.

 

[Gerry Canning]

PaoloZ.

Don,t panic ,
1. I am fairly sure the first 20,000 in investments is disregarded , the other 20,000 is taken into consideration , but I think @ the rate of reducing by 1euro for every 1,000. ie max loss = e20 per week. (other posters will know)
2. You havn,t lost the job yet .