PRSI for Self Employed

T

Tom189

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I'll try to keep this as simple as possible:

I'm self employed since late 2006. In that year I was not liable for PRSI as I did not trade too much. I could however pay voluntary PRSI to keep up contributions for pension. However this voluntary payment doesn't contribute to other benefits such as maternity benefit. How much do I need to be earning in order to be liable for full PRSI (not voluntary PRSI)?

I can recall reading somewhere that I need to earn something like 3K, can somebody give me an exact figure for 2007?

thank you
 
Re: PRSI for Self Empoyed

As a self employed person you are obliged to Class S Contributions on all income.

Benefits = State Contributory Pension, Widows Contrib. Maternity Benefit, Adoptive Benefit & Bereavement Grant.

If you decided to do part-time employment while getting your business going you (or perhaps just your employer) would be paying Class A contribution therefore giving you entitlement to the full range of benefits
 
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