Thank you, That's very clear. My wife will not qualify for her Contributory Pension for another 5 years and probably longer with the age increasing- in the meantime she has no income. Unfortunately her 50% share of the assets would be well in excess of 57K. I note your comment in relation to the transfer of funds into my own name and the conscience aspect. I guess my point was that these funds were in effect mine and a few year ago when received I could just have easily have just put then into sole account in my own name. So I do not have a problem with my conscience. But illegality would be another matter altogether and I would certainly not do that.In addition to the State Contributory Pension your wife could apply for Qualified Adult Dependant payment , but this is means tested on your wife’s means (not on your means).
so assuming she is not earning, and is financially dependent on you, then assets in her name or 50% of assets held jointly are considered. The first €20k is ignored (so is the family home), but above that, so long as she does not have assets exceeding c€57k, she would qualify.
if you/ she does apply for the additional payment, you will have to disclose assets (its part of the application form) and the Department will ask for copies of bank accounts etc going back c6 months. You could transfer some or all of the money into an account in your name only (between you and your conscience), but depending on the amount involved that may not be necessary.
If so, you or she will have no problems as the Contributory pension is NOT means tested.Yes. My wife will qualify for contributory pension at age 66. - she has the necessary contributions. But she has a few years to go yet
Yes. But at least 5 years away. Was hoping she could get the increase for spouse allowance under my pension.If so, you or she will have no problems as the Contributory pension is NOT means tested.
Ah now, one for everyone in the audience. Would you like a Coke with that?Yes. But at least 5 years away. Was hoping she could get the increase for spouse allowance under my pension.
See post 7 above.The cut off point for an Increase for spouse is 57K as above that amount she would not be considered Dependent.
I would be interested to see how the figure of 57K is arrived at. It is just a monetary limit or is there a calculation behind it? And if it's under 57K would she get the full increase or is it reduced?The cut off point for an Increase for spouse is 57K as above that amount she would not be considered Dependent.
Just for clarity, the OP's wife does not apply for a qualified adult payment. The OP applies when applying for his state pension. As mentioned, the qualified adult payment will be means tested. If a payment is granted, it will be paid to the OP's wife directly.In addition to the State Contributory Pension your wife could apply for Qualified Adult Dependant payment , but this is means tested on your wife’s means (not on your means).
so assuming she is not earning, and is financially dependent on you, then assets in her name or 50% of assets held jointly are considered. The first €20k is ignored (so is the family home), but above that, so long as she does not have assets exceeding c€57k, she would qualify.
if you/ she does apply for the additional payment, you will have to disclose assets (its part of the application form) and the Department will ask for copies of bank accounts etc going back c6 months. You could transfer some or all of the money into an account in your name only (between you and your conscience), but depending on the amount involved that may not be necessary.
Sorry. I see where the figure comes from. It's the calculation of income from the assets to be below 100 euro a week.I would be interested to see how the figure of 57K is arrived at. It is just a monetary limit or is there a calculation behind it? And if it's under 57K would she get the full increase or is it reduced?
Thanks, It can be paid to either party with of course the spouses' agreement.Just for clarity, the OP's wife does not apply for a qualified adult payment. The OP applies when applying for his state pension. As mentioned, the qualified adult payment will be means tested. If a payment is granted, it will be paid to the OP's wife directly.
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