PRSI Class M vs K9

Zep240

Registered User
Messages
10
I am less than 66 years old and plan to draw down a DB pension which will be payable from the fund. My understanding is this is Class M, so no actual contribution needed. l will also have some small level of Interest from Deposits/Savings. My understanding is this is liable to Class K9 at 4%. In this situation is the Deposit/Saving unearned income only Class K9 and does the occupation pension stay as Class M ?
 
DP pension = Class M* correct.

* Persons in receipt of occupational pensions (on the Occupational Pension income only)

Interest on Deposits/Savings = Class K9* correct

* occupational pensioners with no additional earned self-employed income but who do have unearned income only such as rental income, investment income, dividends and interest on deposits and savings.