Dáil Éireann Debate, Wednesday - 13 May 2020
374. Deputy Peter Burke asked the Minister for Justice and Equality the estimated cost to the Vote of his Department if the rate of employer PRSI was increased to 15.75% for the portion of salaries over €100,000; and if he will make a statement on the matter. [4706/20]
View answerI wish to advise the Deputy that the estimated cost to my Department of an increase in employer PRSI to 15.75% for the portion of salaries over €100,000 is €32,681. The basis of this estimate is set out below.
Total Salaries for Officers earning more than €100,000 (Note 1) = €2,895,343
At Current Rate (Note 2)
Total salary @ 11.05% on €2,895,343 = €319,935
At Increased Rate
First €100,000 @ 11.05% on €2,200,000 = €243,100
Portion over €100,000 @ 15.75% on €695,343 = €109,516
Total = €352,616
Difference/Cost
Increased €352,616 - Current €319,935 = €32,681
Notes:
1. There are currently 22 officers on a salary higher than €100,000
2. Employers pay 11.05% Class A employer PRSI on weekly earnings over €395 as of 1 February 2020
