Capital refers to savings, investments, cash in hand and property (except your own home) that you and your spouse or partner own. To work out your weekly means from capital, we apply the following formula to the total value of the capital.
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Capital:
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Weekly means assessed:
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First €20,000
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Nil
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€20,000 - €30,000
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€1 per €1,000
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€30,000 - €40,000
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€2 per €1,000
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If you have no other means apart from capital, you can have up to €28,000 and still qualify for the maximum rate of pension. A married or cohabiting couple can have double this amount and each can qualify for the maximum rate of pension provided they both satisfy the other conditions of the scheme.
For more information on how capital is assessed as means, see the Department's information booklet SW 60 - Pensioners and Savings.
What happens if I save some of my Blind Pension each week?
If you save a portion of your Blind Pension each week, these savings as well as savings from other sources (for example, from earnings, inheritances, gifts, rental income) will be taken into account when calculating your weekly means. Depending upon the amount of savings you accumulate, this could give rise to a reduction in (or revocation of) your Blind Pension.
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Note
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If you or your spouse or partner deprive yourselves of income or capital to qualify for Blind Pension (or to qualify for this pension at a higher rate), their income or capital will be assessed against you as means. However, this rule may not apply in the case of certain family settlements involving the transfer or ownership of a farm or business.
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