Ask an expert: When it comes to the Fair Deal scheme is my dad’s retirement fund an income or an asset?

4 days ago 8

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Applying for the Fair Deal strategy tin beryllium confusing (picture posed). Photo: Getty Images

Sinead Ryan

Today astatine 03:30

I americium helping my parent use for the Fair Deal strategy connected behalf of my begetter who needs nursing location care. While I’m gathering the slope accounts details etc, valuations for the location are analyzable by the information that it’s a one-off aforesaid physique and not connected a thoroughfare with different comparable homes. I besides became acrophobic astir his Approved Retirement Fund (ARF), which amounts to €150,000 from which helium draws down 7pc a twelvemonth (he is 79). Is this considered ‘income’ oregon ‘asset’ erstwhile it comes to the calculation of his publication toward care?

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