Hello. Is there a limit on the amount of money somebody applying for or already in receipt of Disability Allowance can have at their disposal when the department is conducting a means test? I am referring to savings, income from investments, assets such as owned property or funds which have been inherited rather than income from part time employment. I know when applying for the HAP, for example, the amount allowable without incurring a penalty is thirty thousand euro. The HAP is a completely separate entity of course administered by the local authorities but I am just using it as an example which springs to mind.
DA Means Test
- Thread starter Markove
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Smaug~~°w°~~
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The means test calculations can be complicated and I'd suggest you ring/talk to your local social welfare officer. Citizens information has some good info but not all - search Disability Allowance. Your own property should not be assessed unless you get an income from it e.g. rent a room. Last I checked up to 50K in other assets such as savings and shares would be exempt but any income from those investments should be assessed. All income is assessed including your spouse/partner.
Means test
To qualify for a social assistance payment you must satisfy a means test. A means test examines all your sources of income. However, some income is not taken into account in the calculation of your means.
Is the info on the Citizens Information webpage?
How capital and property not personally used is assessed
Capital includes property (except for your own home), savings and investments.If you (or your spouse, civil partner or cohabitant) own property that you are not personally using or if you have investments or any other form of capital, the value is assessed, using a standard formula. You may or may not be getting an income from the property or investment. (The only exception to this is where an Increase for a Qualified Adult is being assessed for a social insurance payment. In this case, if a property is let the rental income is assessed rather than the capital value.)
The property and investments that may be assessed under this heading include savings in a bank account (or anywhere else), a house that you have let and stocks and shares. If you or your spouse, civil partner or cohabitant saves a portion of your social welfare payment each week, these savings as well as savings from most other sources will be taken into account as part of your means.
The standard formula for assessing the value of capital for all social welfare payments (except Disability Allowance and Supplementary Welfare Allowance) is:
| Capital | Weekly means assessed |
| First €20,000 | Nil |
| Next €10,000 | €1 per €1,000 |
| Next €10,000 | €2 per €1,000 |
| Balance | €4 per €1,000 |
More information is available in our document, Capital and social welfare payments.
Darthvadar
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Yes. You can have fifty thousand euro in savings before you lose anything. And of course, your own home whatever it's value, us not included as means. Good luck.
Can you request a review of your claim if having previously been placed on a reduced rate for having in excess of 50,000 euro that sum has now been depleted to an amount below 50k? (providing you can demonstrate how the money has been spent by providing documentation)
Thanks.
Thanks.
Smaug~~°w°~~
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If there's any significant changes in your circumstances, i.e. anything that would affect your payment level up or down, you should contact the SW and they'll tell you whether you can/should be reassessed.
Edit: Sorry for repeating shirazman
Edit: Sorry for repeating shirazman