Self employed not entitled to draw stamp?

K

kittycole

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Why is a self employed person unable to draw stamp even though they would have paid PRSI for many years?
 
Your PRSI payments when your are an employee are topped up by your employer, this entitles you to claim unemployment, reduced dental, reduced optical etc. Once you become self employed even tho you are paying PRSI, it is at a completely different rate and you are the only one putting into it - so it only covers for you old age pension. I became self-employed in 2006 and my PRSI entitlement for free dental check up expired this year. It is a bit irritating but nothing you can do about it unless you wished to pay a full A1 contribution and the employers portion too.
 
It is a bit irritating but nothing you can do about it unless you wished to pay a full A1 contribution and the employers portion too.
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Is this option available to all S class directors?
 
Kittycole, I can't see that it would be financially viable to do that. There is one sction in eileen's very useful link that says about upping payments but it refers to fisherman just - see below.

If you are a Share fisherman or woman who is classified as self-employed, you may choose to pay an additional contribution for certain benefits under Class P. You will pay a contribution of 4% of income (up to the earnings ceiling for PRSI) in addition to the PRSI being paid already under Class S. There is a PRSI free allowance of €2,500.
These additional contributions paid under Class P provide cover for:
  • limited Jobseeker’s Benefit (for up to 13 weeks in each calendar year)

  • limited Illness Benefit (for up to 52 weeks)

  • Treatment Benefit including dental, optical and aural benefits for themselves and their dependent spouses.
Leghorn, it mentions company directors too.

Great link eileen.
 
In most cases, self-employed people aged between 16 years and 66 with earnings of €3,174 or more a year must pay Class S PRSI.
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What a pity. I had a glimmer of hope there that I could move onto 'A' class.
 
The relevant governing year for SW claims in 2008 is 2006. So, if a person was insured as an employee in that year (2206) and subsequently became self-employed, they would still be able to claim SW based on the A cons. paid in 2006.
 
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