Can I get paid on my pension for my spouse, civil partner or cohabitant?

[donalfff]

When I retire, I will have a reasonable occupational pension plus entitlement to a pro rata state contributory pension. My wife has no entitlement to the state contributory pension but will have a small occupational pension c€200 pw.

When we arrive at age 67, should we have separate bank accounts (rather than Joint Bank account) so that my wife can only be assessed on the income in her own bank account? - see Social Welfare guideline below.

thanks

donal

'If they have gross weekly means of between €100 and €310, you will get a reduced rate of increase. Where joint means exist (e.g. a joint bank account), half of such means is assessable.'

 

[Conan]

If you intend to apply for an additional Qualified Adult Dependants pension, then such is means tested based on the income and assets of the spouse only.
Your assumption/strategy is correct, based on current rules.

 

[donalfff]

Conan,

many thanks.

I did a bit more research and downloaded social welfare guidance on rates etc [document SW19_15). It seems to me, if your partner has no entitlements to a contributory pension in their own right and their gross income is less than €310 per week, you need separate bank accounts and dependents assets below €20,000 (home property is not assessable). it seems unfair for those who know the rules can maximise their affairs to benefit.

 

[Steven Barrett]

Conan,

many thanks.

I did a bit more research and downloaded social welfare guidance on rates etc [document SW19_15). It seems to me, if your partner has no entitlements to a contributory pension in their own right and their gross income is less than €310 per week, you need separate bank accounts and dependents assets below €20,000 (home property is not assessable). it seems unfair for those who know the rules can maximise their affairs to benefit.

It is a mockery of what the benefit is for. I have spoken to millionaires who have kept all their assets in their own name so their wife can claim the Adult Dependents pension. This is not what the benefit is intended for and are depriving much more deserving people of financial support. The couple's assets should be assessed, not the individuals.


Steven
www.bluewaterfp.ie