Self-employed contributors with annual income in excess of €3,174 per annum pay a minimum PRSI contribution of €253 per annum or 3%, whichever is the greater, plus the health contribution where applicable. This is equivalent to a social insurance contribution of €4.89 per week. These contributions count for establishing entitlement to, inter alia, old age contributory pension. Persons with incomes below €3,174 are not entitled to pay contributions.
The minimum contribution was set at its present level in 2001. In the meantime, the old age contributory pension has risen by 25% and average earnings by 19%. Any proposals to raise the level of the minimum contribution or the threshold for payment would have to be considered in a budgetary context.