Prsi contributions for the Self Employed

A

amandstu

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as they relate to state pensions .

Has anyone a link to where I can puzzle this out ?

Does the self employed contribution automatically count as 52 weeks?

To have appropriate entitlement is it the number of years of prsi payments that are considered or is it the percentgage of payments as a a proportion of possible payments that matters?

If one needs (is allowed) to back pay missed payments is it the new (500 eu) rate that is applicable ?

If the income in a given year is too low to trigger compulsory contributions does that year potentially need to be paid voluntarily ?
 
If the income in a given year is too low to trigger compulsory contributions does that year potentially need to be paid voluntarily

Yes
 
Thanks.
Would I be right to assume that there would be circumstances where making that voluntary payment would not make a lot of difference?

Suppose you had been paying contributions from the age of 30 until 60 and at that point you had the choice of making voluntary contributions or not what difference would it make at that point?
Again does anyone know where I can find this kind of information relating to Prsi contributions for the Self Employed as they affect pension entitlement gathered in the one place ?
 
thanks

That seems fairly comprehensive but I still can't find out how to calculate the yearly average as the figures seem to apply to the PAYE situation (it seems to be all about weeks whereas the self employed pay once a year).

Would I be right just to count the yearly self employed PRSI contribution as 52 (weeks) and work away from there?
 
amandstu said:
thanks

That seems fairly comprehensive but I still can't find out how to calculate the yearly average as the figures seem to apply to the PAYE situation (it seems to be all about weeks whereas the self employed pay once a year).

Would I be right just to count the yearly self employed PRSI contribution as 52 (weeks) and work away from there?
Click to expand...

A self-employed contribution is a self-employed contribution: how could it be averaged into weeks?! If you were slef-employed in a year and paid the minimum contribution or more, then you've got a contribution for that year - I don't see what you're so confused about TBH...
 
Well the State Pension (Contributory) Rates are laid out on the page you gave me as ,for example,
€230.30 for a Yearly Average of 48 or over.
€225.80 for a Yearly Average of 40 -47
€207.00 for a Yearly Average of 30-39
and so on.
That doesn't seem to make any sense for a yearly contribution so where is the equivalent table for a self employed contribution?

Have I got completely ther wrong end of the stick?
Does the Yearly Average not mean how many weeks of the year one has, over the period, contributed on average?
 
Yes indeed an annual Self employed contribution is indeed taken as a 52 week payment at class S.
The most important thing to do when trying to calculate your pension entitlement is to obtain a copy of your PRSI contributions from welfare.ie.

It will then become clear (fairly clear anyhow) how PAYE, self employed and credits are treated for pension purposes.

Remember that the date of first contribution till 66th Birthday is your working life and all contributions and credits are divided by that number to arrive at your yearly average.

As you do not state if you are coming up to pension age or have a long way to go this may all be changed by then
 
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