Dáil Éireann Debate, Wednesday - 26 July 2017
1598. Deputy Niall Collins asked the Minister for Social Protection the approximate reduction in the social insurance yield in a calendar year if the pay related social insurance employers rate of 8.5% was extended for employees earning up to €380, €385, €390, €395 and €400 per week; and if she will make a statement on the matter. [36716/17]
Amharc ar fhreagraCurrently, Class A employers pay PRSI at the rate of 8.5% where weekly earnings are between €38 and €376. Once weekly earning exceed €376, the rate of employer PRSI is 10.75%
The cost to social insurance fund of raising the weekly 8.5% threshold to €380, €385, €390, €395 and €400 is provided in the table below.
|
Higher rate threshold |
€380 |
€385 |
€390 |
€395 |
€400 |
|
Cost |
€1.1m |
€3.0m |
€4.5m |
€6.2m |
€8.4m |
|
Employments affected |
4,582 |
11,939 |
18,130 |
24,480 |
32,774 |
These estimates are based on the latest available data and reflect macro-economic indicators for 2018. It should be noted that the estimates do not take possible changes in employer behaviour arising from changing rate thresholds into account.
