Right Winger
Registered User
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Fair point. I didn't think of that.
Fair point. I didn't think of that.A pensioner with an ARF is in the paye tax system and the prsi is collected monthly at source at 4%. They would not be registered for income tax and would not be making a tax return.
Would it not be collected automatically by Revenue when an S class contributor submits a tax return?
Thanks, that explains the K class that appeared beside the A class in my statement.It's automatically taken @ 4% (minimum 500 euro) when you submit your Form 11 tax return.
Surely it's only S class contributions you pay for the particular tax year which covert to class k if you take up PAYE employment during that particular tax year and historic PRSI class S contributions ( which could have been amassed during decades) remain intact as class S with all the entitlements they confer as regards contributory state pension?It's automatically taken @ 4% (minimum 500 euro) when you submit your Form 11 tax return.
The 52 class S will eventually appear in your Prsi record.
It might not appear until almost the end of the next calender year.
My 52 class S for 2022 didn't appear until the last week of December 2023.
Be extra careful not to take up any PAYE employment. All your rental class S will convert to class K even if you only have 1 class A paid contribution during the year.
The Prsi is charged on the total rental income.Thanks, that explains the K class that appeared beside the A class in my statement.
Is the 4% calculated from rental income after deductions/expenses.
Example i have to pay 24,000 to Revenue therefore its 4% of 24,000 = 960 for this S class stamp.
No (emphasis is mine):QQ My wife has only K Class Stamps for a number of years when she was not working - do these count for Pension Contributions?
Class K applies to public office holders with an income of over €5,200 a year. Public office holders with weekly income of €100 or less are recorded under Class M. Class K also applies to people who pay PRSI on unearned income. There are no social insurance payments for people insured under Class K.
Class K1/9 benefits
There are no benefits under Class K1/9
I don't think so.Can they be upgraded to full contributions, if they don't?
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