Vol. 497 No. 5
277 Mr. R. Bruton asked the Minister for Social, Community and Family Affairs the provision, if any, he has made in the 1999 Estimates for an increase in threshold of £75,000 from the sale of a house which may be exempted in certain circumstances when calculating eligibility for contributory old age pension in view of the change in house prices. [25648/98]
The question of a disregard of the proceeds from the sale of a house does not arise where a person is a recipient of a contributory pension as such a measure would have no bearing on his-her entitlement. However, regulations came into effect in October 1991, which provide that the income derived from the sale of a principal residence is exempted from the means test in relation to the Old Age (non-Contributory) Pension or other relevant means-tested payment from the Department up to a limit of £75,000. The pensioner, or a person of pension age, must either buy or rent alternative accommodation or move into a private nursing home. Where the applicant has a spouse, he/she must also be over 66.
My officials are undertaking a wide-ranging review of these provisions, at present, and I expect this to be completed in early 1999.
