jobseekers allowance means test

Discussion in 'Redundancy, unemployment & jobseekers entitlements' started by lyn123, Feb 10, 2009.

  1. lyn123

    lyn123 Registered User

    Posts:
    13
    I have savings of €25,000 - will I get jobseekers allowance or will i fail the means test I have read the official helpsheet but did not understand the "formula" bit? Some of this money is for upgrading my house and garden and is my only savings - should i take out some before applying?. i have never claimed benefit before so am not up on these things. Please help!!
     
  2. gipimann

    gipimann Frequent Poster

    Posts:
    4,453
    If you've just finished work, then you may qualify for Jobseeker's Benefit which isn't means-tested so your savings won't be counted.

    The savings will be assessed as follows for Jobseeker's Allowance.

    First 20 000 is disregarded (ignored).
    The balance (5000) is assessed at 1 euro per 1000 per week - so you will be assessed as having €5 means per week.

    Assuming you're single and have no other income, your entitlement would be 204.30 (full rate Jobseeker's) minus €5 means.
     
  3. lyn123

    lyn123 Registered User

    Posts:
    13
    Thank you very much Gipimann, hurrah for plain english!!! All clear now, you should apply to translate social security "helpsheets".