Dáil Éireann Debate, Tuesday - 2 October 2018
595. Deputy Thomas Pringle asked the Minister for Employment Affairs and Social Protection the estimated amount it would cost if class A employers rate of 8.6% was reduced to 8% for persons earning less then €376 weekly; and if she will make a statement on the matter. [39669/18]
View answerCurrently, Class A employers pay PRSI at the rate of 8.6% where weekly earnings are between €38 and €376. Once weekly earnings exceed €376, the rate of employer PRSI is 10.85%.
It is estimated that a 0.6% decrease in the 8.6% rate of employer’s PRSI for persons earning less than €376 weekly would cost the Social Insurance Fund €25.2 million in a full year.
These estimates are based on PRSI Class A contributors. They use the latest available data and reflect macro-economic indicators for 2019. It should be noted that these estimates do not take into account any possible changes in employer behaviour arising from changing rates of contribution.
