Vol. 441 No. 8
23 Ms Keogh asked the Minister for Social Welfare in view of the reduction on interest paid to depositors, if he will consider amending the means test whereby his Department take five per cent of the first £400 and 10 per cent of the balance on deposit as interest; and if he will make a statement on the matter.
The means tests used to determine entitlement to all social assistance schemes include an assessment of the value of any capital or investments held by the applicant in order to determine the level of their social welfare entitlement. The assessment rates vary depending on the scheme. For unemployment assistance and supplementary welfare allowance, 5 per cent is assessed against the first £400 of capital and 10 per cent is assessed on the balance. The figure arrived at is then divided by 52 to give the weekly value. A similar assessment is used for old age pension purpose i.e. after an initial disregard for £200,5 per cent of the next £375 is assessed and 10 per cent of the balance.
The Programme for Competitiveness and Work contains a commitment to streamlining and standardising application and assessment procedures, including means testing, in respect of social welfare and other applicants for means-tested State assistance. In this context the possibility of rationalising the different methods of assessing the value of capital will be examined.
