Landmark legislation to introduce Pay-Related Benefit in Ireland passed by the Oireachtas
Key features of the new Pay-Related Benefit scheme include:
- The weekly rate of payment for people who have at least 5 years paid PRSI contributions will be set at 60% of previous earnings, subject to a maximum of €450 for the first 3 months.
- After that, the rate will reduce to 55% of earnings, subject to a maximum of €375 for the following 3 months.
- A further 3 months will be paid at the rate of 50%, up to a maximum €300 payment.
- For people who have between 2 and 5 years paid contributions, the rate will be set at 50% of previous earnings subject to a maximum for €300 per week and 6 month’s duration.
- The scheme will be available to persons who become fully unemployed after the commencement of the scheme.
- The Minister will bring forward a commencement order for the introduction of Pay Related Benefit later this year once the necessary IT systems have been developed.
- People who lose their job before that date will be remain entitled to the existing Jobseeker’s Benefit.