Key Post PRSI and planning retirement
- Thread starter outofmymind
- Start date
That is an error quoted from post #47.
I rectified this error at post #62.
It has also been corrected at post #1.
Just to clarify, if you did as stated and had 26 or more paid Prsi contributions from your 62nd year you would qualify.
This would be the earliest possible retirement date for a person unable or unwilling to sign on for Prsi credits.
Following my reading of this and some other threads on this forum, I applied for and was approved for Job Seekers Benefit. The whole process took 1 month including applying for and getting the Public Services Card, applying online for JSB, dealing with omissions in the online forms (not sure whether it's my laptop or their editable PDFs). Overall, apart from the issue with uploading forms, the process was very quick. I want to give credit to the DSP staff who dealt with my application very efficiently.
More importantly, I want to thank the posters on this thread and, in particular, S-Class for their most knowledgeable contribution to this topic.
More importantly, I want to thank the posters on this thread and, in particular, S-Class for their most knowledgeable contribution to this topic.
Michael Herman
Registered User
- Messages
- 20
Maybe a daft question. Sorry !If a married couple reach the age of 65 and both would meet the PRSI requirements for JB over 65s.
Could they both claim JB or would it be one claim with a dependent?
Could they both claim JB or would it be one claim with a dependent?
Each individual is treated separately. I assume you are referring to the Benefit Payment for 65year olds?
Each person would receive the 65s benefit if each of them are 65 and they both meet the Prsi qualification criteria and both of them are unemployed.
I have been turned down for Benefit Payment for 65s because on the grounds that I have a continuing rental income. However because there is a large interest only tracker mortgage on the property, it is now loss-making as the rent received is less than the monthly interest charges. I cannot increase the rent above 2% because the property is in a rent pressure zone and I am waiting for the tenant to leave so I can sell the property having given the required notice. I am currently paying the difference from my savings as I do not want to default. When you add in management charges, insurance and expenses I am making a significant loss. I have ceased my normal employment and have paid PRSI for 45 years so I qualify on contributions. Can a rental loss be viewed as a continuing income?
This payment is means tested ? I was unaware of that. Are you sure you're applying for the correct payment and you pass the correct criteria ?
Edit: Ah OK. I suppose rental income is classed as income so you need to have none in the first place
But I do not have any profit or income from it as it is generating a loss. It is not means tested but employment must have ceased. The minister stated in the Dail in November that a subsidiary income (including rental income and ARFs) up to 7,500 is allowable for those on Benefit Payment for 65s. I cannot understand how a loss can be taken as an income?This payment is means tested ? I was unaware of that. Are you sure you're applying for the correct payment and you pass the correct criteria ?
Edit: Ah OK. I suppose rental income is classed as income so you need to have none in the first place
For 2023 it was €0.00 as it was loss-making. I had other income but this was PAYE and it ceased when I retired in December. I did not expect I would be turned down based on a €0.00 rental income but I have been. The reason they stated is that I have a continuing rental income even though it's loss making. I paid class S on rental income in 2022 (before the worst of the ECB rate increases) but then the rental income was under €7500 anyway.
Did you apply for 65s benefit based on class A or class S contributions ?
If class A your rental employment could be classed as subsidiary employment if it meets the rules.
If you applied using class S you would need to have ceased another class S self employment in a strict timeframe before you applied.
If class A your rental employment could be classed as subsidiary employment if it meets the rules.
If you applied using class S you would need to have ceased another class S self employment in a strict timeframe before you applied.
Last edited:
I applied under class S. what is the timeframe?
You would need to read through the subsidiary rules for self employment here.
They are fairly complex.
You should make an appeal regardless of whether you think you qualify or not, stating that your rental income is subsidiary employment.
You have nothing to loose in trying.
Thank you very much S Class. That’s greatly appreciated.
I just reread your #95 post. You retired from class A employment last December.
Do you have class A contributions during the calender year of your 63rd birthday ?
If you have a minimum of 39 class A of which at least 13 are paid class A you would qualify under the class A rules.