Written answers
Wednesday, 30 June 2010
Department of Social and Family Affairs
Social Welfare Code
9:00 pm
Richard Bruton (Dublin North Central, Fine Gael)
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Question 231: To ask the Minister for Social Protection in view of assessing means tested entitlements, if he will indicate the way his Department treats financial lump sums paid as a result of accidents which are made in order to meet the expected medical costs in the future; and if they are disregarded in whole or in part in assessing capital resources of an applicant. [28819/10]
Éamon Ó Cuív (Galway West, Fianna Fail)
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In assessing means for social assistance purposes, account is taken of any cash income the person may have, together with the value of capital and property (except the home). Capital may include the following: Stocks and shares of every description, which are assessed according to their current market value; Savings certificates / bonds / national instalment savings, which are assessed according to their current market value; Money invested in a bank, building society etc.
A financial lump sum paid as a result of an accident would fall into the third category. While no account is taken of the purpose of the award, including compensation for future medical expenditure, substantial disregards are applied when assessing the weekly means derived from this capital. In assessing the yearly value of a property or capital, no account is taken of the income, if any, from this capital. The formula for assessing the means from capital for all social welfare payments (except disability allowance and supplementary welfare allowance) is as follows:
Capital | Weekly means assessed |
First €20,000 | Nil |
Next €10,000 | €1 per €1,000 |
Next €10,000 | €2 per €1,000 |
Balance | €4 per €1,000 |
The formula for assessing the means from capital for disability allowance is as follows:
Capital | Weekly means assessed |
First €50,000 | Nil |
Next €10,000 | €1 per €1,000 |
Next €10,000 | €2 per €1,000 |
Balance (any capital over €70,000) | €4 per €1,000 |
The formula for assessing the means from capital for supplementary welfare allowance is as follows:
Capital | Weekly means assessed |
First €5,000 | Nil |
Next €10,000 | €1 per €1,000 |
Next €25,000 | €2 per €1,000 |
Balance | €4 per €1,000 |
Any changes to the current capital assessment arrangements would fall to be considered in a Budgetary context and in the context of continuing to reduce overall public expenditure and restoring stability to the public finances.
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