Advice on buying An Post Savings certificates.

M

midleton

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My husband who is almost 66 received settlement recently from a bad accident. We were advised to invest it in my (his wifes) name or name of our son. My husband is fine with this absolutely as he is worried him having a lump sum set aside might affect his old age pension which is due shortly he feels he has worked hard from 16 years of age and deserves state pension. This is the first ever sum of money we have had so we are wary of how to manage it. We do know we want it to go into An Post not into bank or any investment broker. Would a lump sum in his own name affect his pension? Is it good idea to put some into savings in An Post and some into Prize Bonds? We appreciate any advice given soon so we can make decisions. Thanks.
 
The contribution based State Pension is not means tested.

Millionaires will and do receive it.
 
I am not an expert wish I was on state pension but I thought there are two types of pension and one is means tested but one not. My husband was self employed for much of his life so not sure what pension he will hopefully receive. Tks for reply.
 
Self employed for years paid tax end of year one earning but did they pay PRSI not sure so will they be entitled to contribution based state pension?
 
Self employed pay PRSI class S, and they are entitled to a CSP.

Did he pay PRSI class S?
 
Tks for all your advice its much appreciated. I applied for that report of his tax paid few months ago ...cannot find it just now but I am very sure he paid class S PRSI through the years. I will find that and do as Mombretia says go to Citizens Advice office and ask for definite if he is entitled to pension and I will know then what best to do for us ref savings certs. Tks again. T.G for this site its so helpful.
 
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