Will I be eligible for the benefit from 65- 66

[holidayqueen]

Hi I have retired from my job in 2022 at the age of 60. I did get job seekers benefit as I left the work due to having tinnitus and was working in a job in which the noise level affected my quality of life.
So I had that payment until mid 2023 and have applied for credits, but we do have rental income of €24k per annum.
I will be paying prsi on this. Will this prsi payment make me eligible for that interim payment or does it need to be earned at employment.
My husband is getting the contributory pension and a small public service pension.
I am not currently eligible to get any dependent payment on his pension as it is means tested and we have the income from rentals and some savings.
My question is will the prsi paid on the rental qualify me for a payment at 65 ? I’m 62 this year.
Thanks in advance

 

[S class]

No, you won't qualify for Benefit Payment 65 with that level of rental income.
Keep signing on for class A credits and follow the plan in the link and you can qualify for Jobseekers Benefit instead.

Can a person with rental or investment income over 7500 euro per year qualify for 65s benefit ?

No. However they could qualify for Jobseekers benefit at age 65. Basically the subsidiary employment rules for Jobseekers benefit are different to those for 65s benefit. Employment 1. PAYE employment Employment 2. Rental or investment income over 7000 euro per year. To qualify...

askaboutmoney.com

 

[holidayqueen]

No, you won't qualify for Benefit Payment 65 with that level of rental income.
Keep signing on for class A credits and follow the plan in the link and you can qualify for Jobseekers Benefit instead.

Can a person with rental or investment income over 7500 euro per year qualify for 65s benefit ?

No. However they could qualify for Jobseekers benefit at age 65. Basically the subsidiary employment rules for Jobseekers benefit are different to those for 65s benefit. Employment 1. PAYE employment Employment 2. Rental or investment income over 7000 euro per year. To qualify...

askaboutmoney.com

Thank you. So if I wish to qualify for this benefit I should take up some part time work at some stage this year . I will be 62 in September so if I was applying for jobseekers benefit around 6 months in advance of my 65 birthday which will Sept 2027 so would it be my prsi contributions from the year 2025 or earlier 2024
Thanks for the reply

 

[S class]

If you claim in the calender year of your 65th birthday the governing year is the calender year of your 63rd birthday. 2025.

Just continue signing on for credits until you claim Jobseekers Benefit.
This takes care of the governing year rules for any year you might start your claim.

You will need a minimum of 26 weeks of employment. Part time, 3 hours per week at minimum wage will give you the necessary 38 euro per week to qualify for Prsi contributions.

Then all you need to do is cease employment immediately before you make your Jobseekers claim.

 

[holidayqueen]

If you claim in the calender year of your 65th birthday the governing year is the calender year of your 63rd birthday. 2025.

Just continue signing on for credits until you claim Jobseekers Benefit.
This takes care of the governing year rules for any year you might start your claim.

You will need a minimum of 26 weeks of employment. Part time, 3 hours per week at minimum wage will give you the necessary 38 euro per week to qualify for Prsi contributions.

Then all you need to do is cease employment immediately before you make your Jobseekers claim.

Thank you for that very useful information

 

[S class]

So if I wish to qualify for this benefit I should take up some part time work at some stage this year . I will be 62 in September

I reread this bit.

Just to clarify. The 26 weeks of class A employment must run concurrently with the rental income and be ceased immediately before you claim Jobseekers benefit.

The Jobseekers Benefit needs to be timed so that it will continue up to your 65th birthday.

The employment should be started nearer to your 65th birthday.

 

[elcato]

The employment should be started nearer to your 65th birthday.

But the OP will not have a class A stamp in their governing year (2025 in this case). My understanding is that the OP needs to work for 9 months in 2025 as well ? Then in 2027 work for 6 months and then sign on before their 65th birthday ?

 

[S class]

Provided she continues to sign on for credits, the governing year rules are met.

She will have at least 39 contributions in each year. (credits are accepted)

She needs 26 paid contributions to meet the subsidiary employment rule for her rental income.

 

[holidayqueen]

Provided she continues to sign on for credits, the governing year rules are met.

She will have at least 39 contributions in each year. (credits are accepted)

She needs 26 paid contributions to meet the subsidiary employment rule for her rental income.

So just to make sure I’m understanding it correctly, in 2025 I work for 26 weeks and then go back on my credits and in 2027 I can draw my job seekers benefit 6 months prior to my 65 birthday . And I don’t need to work in 2027 ?

 

[S class]

So just to make sure I’m understanding it correctly, in 2025 I work for 26 weeks and then go back on my credits and in 2027 I can draw my job seekers benefit 6 months prior to my 65 birthday . And I don’t need to work in 2027 ?

No this is not correct.

You need to continue signing on for credits from now up to the time you start the 26 weeks employment.

The latest time you can start the employment is 26 weeks before your 65th birthday, so March 2027. This would set you up to begin claiming Jobseekers Benefit on your 65th birthday for 1 year up to age 66.

However you can maximise your period of Jobseekers to start before your 65th birthday. If you received 9 months of Jobseekers Benefit on your last claim you should qualify for another 9 months on your next claim.

So you could potentially get a total of 1 year + 9 months. To achieve this you would need to start your 26 weeks employment 15 months before your 65th birthday.
Then cease your employment 9 months before your 65th birthday.

The critical thing is to be a Jobseeker on your 65th birthday.

So allow an extra week for errors. Cease employment and claim Jobseekers 8 months and 3 weeks before your 65th birthday.

You then continue to be eligible for Jobseekers Benefit up to age 66.

You need to follow these instructions in order to ensure that your rental income qualifies as subsidiary income.

 

[holidayqueen]

No this is not correct.

You need to continue signing on for credits from now up to the time you start the 26 weeks employment.

The latest time you can start the employment is 26 weeks before your 65th birthday, so March 2027. This would set you up to begin claiming Jobseekers Benefit on your 65th birthday for 1 year up to age 66.

However you can maximise your period of Jobseekers to start before your 65th birthday. If you received 9 months of Jobseekers Benefit on your last claim you should qualify for another 9 months on your next claim.

So you could potentially get a total of 1 year + 9 months. To achieve this you would need to start your 26 weeks employment 15 months before your 65th birthday.
Then cease your employment 9 months before your 65th birthday.

The critical thing is to be a Jobseeker on your 65th birthday.

So allow an extra week for errors. Cease employment and claim Jobseekers 8 months and 3 weeks before you 65th birthday.

You then continue to be eligible for Jobseekers Benefit up to age 66.

You need to follow these instructions in order to ensure that your rental income qualifies as subsidiary income.

Thank you for the clarification