How do you assess capital?


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This formula is used:
​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 single person has €45,800 savings and no other means.
 
Amount of savings                             €45,800
Minus first €20,000 (disregarded)         €20,000
                                                        €25,800
 
Balance of €25,800 is assessed as follows:
 
€10,000 is assessed at €1 per €1,000  €10.00
€10,000 is assessed at €2 per €1,000  €20.00
€ 5,000 is assessed at €4 per €1,000   €20.00
 
The balance of €800 is not assessed as it is less than €1,000.
 
Weekly means                                   €50.00
Weekly Blind Pension at current rates: €145.50
 

Example 2

A couple both aged under 66, have €100,800 joint savings and no other means.
 
Amount of joint savings                              €100,800
Assessable savings (half of joint savings)    €50,400
 
This is assessed as follows:
 
Assessable savings                                  €50,400
Minus first €20,000 (disregarded)             - €20,000
                                                              €30,400
 
Balance of €30,400 is assessed as follows:
 
€10,000 is assessed at €1 per €1,000       €10.00
€10,000 is assessed at €2 per €1,000       €20.00
€10,000 is assessed at €4 per €1,000       €40.00
 
The balance of €400 is not assessed as it is less than €1,000
 
Weekly means for each person                 €70.00
 
Weekly Blind Pension (at current rates)
Personal Rate                                         €125.50
Increase for Qualified Adult under 66          €83.30
Total                                                       €208.80
 
Note:
If you qualify for Blind Pension, the rate of payment you receive will be set at a level that should enable you to have an adequate standard of living. The Department would expect you to spend all or most of your pension each week in meeting your normal day-to-day living expenses.
However, if you choose to save part of your pension, those savings will be means-tested in the same way as savings from any other source (for example, from earnings, from an occupational pension or from an inheritance).
Depending on the amount of savings you accumulate from all sources, this could result in a reduction in (or withdrawal of) your Blind Pension.
Last modified:30/01/2013
 

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