Appendix 4 - How we assess savings and investments of a qualified adult (QA)


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How we assess savings and investments of a qualified adult (QA)

When working out QA means from investments and savings, we add together the following items that your spouse or partner may have and use a special formula to work out their weekly means:

  • the cash value of investments and property (except your own home),
  • money in a savings account or any other kind of bank account, and
  • cash-in-hand.
Capital: Weekly means assessed:
First €20,000 Nil
€20,000 - €30,000 €1 per €1,000
€30,000 - €40,000 €2 per €1,000
Over €40,000 €4 per €1,000

Example 1

A QA has €35,300 savings and no other means.
Amount of savings €35,300
Minus first €20,000 (disregarded) €20,000
  €15,300
Balance of €15,300 is assessed as follows:  
€10,000 is assessed at €1 per €1,000 €10.00
€5,000 is assessed at €2 per €1,000 €10.00
The balance of €300 is not assessed as it is less than €1,000.  
Weekly means €20.00

Please note other income your spouse or partner may have is assessed on a weekly basis.

For more information, log on to 'www.welfare.ie'.

Example 2

A qualified adult has earnings of €160 gross a week and €35,300 savings. Means are calculated as follows:
Earnings €160
Capital €35,300 (see example 1, above)  
Weekly means €20
Total weekly means €180

For more information, log on to 'www.welfare.ie'.

Last modified:26/05/2010
 

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