Intergenerational financial support

In keeping with the interest in collecting intergenerational information expressed in

the consultation group meetings, another topic that was discussed was

intergenerational financial support, or the study child’s parents’ reliance on financial

support from their own parents. This is particularly relevant in the Irish context; in

2013, two-thirds of women aged 50 to 69 with adult children provided financial

support to their adult children, at an average of €1,500 per year (McGarrigle & Kenny

2013, p.i). While this rate may have decreased in the years since due to changing

economic circumstances, especially given Ireland’s increase in immigrants (who may

be financially isolated from their family), it is unlikely to have disappeared completely.

This topic is of substantial relevance, highlighted by the recent increase in the

threshold for when inheritance tax must be paid on transfers to adult children from

€335,000 to €400,000.36 As such, it is pertinent to ask about financial transfers

between the study child’s parents and grandparents as early as possible to better

understand financial strain and support networks for families with young children.

Financial support from grandparents also featured in one of the comparable

longitudinal studies and was featured for Cohort 08 at age 3, but in less detail than is

being proposed for Cohort 24 at age 3 in terms of value and frequency; as such, this

is more of an extension and expansion of a topic rather than a completely new topic.

This point is policy relevant, as responses can help evaluate current policies relating

to government transfers to new parents. Additionally, this topic has longitudinal

value, as it can be used to analyse differences in outcomes across the cohort from an

early age.

Recommendation for Cohort 24 at 3 years:

•Insert a question asking the study child’s caregiver if they have received financial assistance from their parent(s). If the answer is yes, ask a second question if this was in the form of a once-off transfer or occurs regularly. If it is a once-off transfer, ask what the value was and if it was for a house deposit. If it is regular, ask what the average monthly value of that financial assistance is. As this may be a sensitive topic for parents, include these questions in the selfcomplete section rather than the main questionnaire.

Accessing care services