How much money can you have in the bank to claim JSA?

[Nemama]

Job seeker allowance is means tested.
How much money do I need to have in the bank to get approved the JSA?

THanks

 

[gipimann]

The details of the means test for Jobseekers Allowance can be found here

http://www.citizensinformation.ie/e...ents/means_test_for_jobseekers_allowance.html

Information on how savings are assessed is about half way down the webpage, under "Capital and Property not personally used".

 

[Nemama]

Does it mean that if I have € 55000 on savings (or stocks), I would get paid €90 per week?

 

[gipimann]

No, your means from savings would be calculated as €90 per week. Your entitlement would be the Jobseekers Allowance rate minus the means.

The means for €55k are calculated as follows:
20k disregarded
10k = €10 means
10k = €20 means
15k = €60 means.

If you are claiming for yourself only and have no other savings, property, income, etc, then €90 is deducted from the single Jobseekers Allowance weekly rate (currently €198).

If you are claiming for a spouse/partner, income, savings or property they have may be assessed as means too.

 

[Nemama]

Thanks,

Can I apply whenever I want for JBA? I mean... I'm looking forward to buy a house so my savings won't be the same now than 3-4 months from now.

 

[gipimann]

If you are unemployed and looking for full-time work, then you can apply for Jobseekers.

If you apply now and qualify for a reduced payment based on your savings, you can ask for a means test review when your savings change.
Claiming jobseekers adds to your PRSI contribution record, which is important for pension entitlements in the future, so it's useful not to have too long a gap in your records.