Written Answers - Pension Provisions. Tuesday, 1 December 1998

Dáil Éireann Debate Vol. 497 No. 5 Page of 223

  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]

Minister for Social, Community and Family Affairs (Mr. D. Ahern):    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 [1136] 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.

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