Dáil Éireann Debate, Wednesday - 6 July 2016
146. Deputy Niall Collins asked the Minister for Social Protection the reduction in the yield from social insurance in a calendar year if the PRSI employer's rate of 8.5% was extended for employees earning up to €385, €390, €395 and €400 per week; and if he will make a statement on the matter. [19904/16]
View answerCurrently employers pay PRSI at the rate of 8.5% where weekly earnings are between €38 and €376. Once weekly earnings exceed €376, the rate of employer PRSI is 10.75%.
The reduction in the PRSI yield to the Social Insurance Fund of increasing the upper threshold at which 8.5% rate of employer PRSI applies, is contained in the following table:
|
Employer PRSI New Upper Threshold for 8.5% Rate |
Full Year Cost |
Employments Affected |
|
€385 |
€3.3m |
12,860 |
|
€390 |
€5.1m |
19,380 |
|
€395 |
€8.1m |
30,000 |
|
€400 |
€10.0m |
36,730 |
These estimates are based on the latest available data and reflect macro-economic indicators for 2017. It should be noted that the estimates do not take possible changes in employer or employee behaviour into account.
