Landmark legislation to introduce Pay-Related Benefit in Ireland passed by the Oireachtas


Am I paying PRSI twice, on the way in to my private pension and out?

I think by removing the alignment between payments in and out undermines the principles of PRSI being a public insurance system. Ideally it would be a flat percentage up to a maximum but I can accept that it being stepped.

Your point about the political ability to make certain changes is correct. It seems even if the change can be well justified there is too much political points to be gained by the opposition by objecting to it. Is this unique to Ireland? I mean if any party would address this it would be FG but are they the least likely to be able to make this change?
 
You'll pay PRSI+USC in and out, until you're at whatever the cutoff ages are - currently 66.

RTE on budget day pick one change and try to make it a story they can run with for a week or two - the Liveline school of journalism.

Political parties worry they can make 99 populist changes in a budget but a single more targeted change is going to be used by media as a hammer handing an easy win to the opposition. So they can't undo the emergency PRSI moves in 2011 or any other similiar tax anomalies.
 

It’s interesting how much the media can drive policy. They already have x hours set to full on the budget.

One that gets me is when tax bands move in line with inflation it’s referred to as a “giveaway”.
 
faketales said:
Am I paying PRSI twice, on the way in to my private pension and out?
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You don't pay Prsi out of your private pension if it is an Occupational Pension or an Annuity. Prsi Class M applies to these and is zero rated.
If you have ARF drawdowns you will pay Prsi Class S up to the time you start your State Pension or until you reach age 70. After this Prsi Class M applies to ARF drawdowns.
 
ashambles said:
At the same time PRSI was added to all sorts of non-pay related income, non Pay Related "PRSI" that in almost all cases as far as I understand provides no entitlement to Social Insurance.
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This is Class K. It is charged at 4% and has no benefits.
I think this was introduced by Michael Noonan.
 
It seems to be payment at post office only, so no extended foreign travel possible.

Also not available to retirees.
A retired person at age 65 presumably cannot qualify.

But BP65 remains in place.
 
S class said:
It seems to be payment at post office only, so no extended foreign travel possible.
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Would you not be required to be actively seeking work anyway, precluding extended travel abroad outside of the allowed holiday periods? Though I presume the same measures would apply as before if you are actively seeking work in another EU state (ie registered with the employment services there).

Going abroad or on holidays and social welfare payments

Outlines the social welfare payments that will continue to be paid if you go abroad. It also lists the payments that will not be paid if you go abroad.
www.citizensinformation.ie
 
If you were made redundant and on over €39K you'll hit the €450 cap. You'd have a nice few quid to live off for a while

Jobseeker's Pay-Related Benefit

Jobseeker’s Pay-Related Benefit (JPRB) is a payment based on your earnings from work before you became unemployed. It will be available from 31 March 2025.
www.citizensinformation.ie
Jobseeker’s Pay-Related Benefit weekly rate, if you have at least 260 (5 years) paid PRSI contributions:
Weekly paymentPaid for
60% of earnings up to a maximum of €450First 3 months (13 weeks)
55% of earnings up to a maximum of €375Next 3 months (13 weeks)
50% of earnings up to a maximum €300 paymentLast 3 months (13 weeks)
 
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