Dáil Éireann Debate, Wednesday - 18 April 2018
231. Deputy Pearse Doherty asked the Minister for Employment Affairs and Social Protection the estimated amount it would cost in a full year if the threshold for the lower 8.5% class A rate of employer PRSI was increased from €376 to €400. [16868/18]
Amharc ar fhreagraThe National Training Fund Levy (NTFL), collected alongside Employer PRSI for Classes A and H, increased by 0.1% from 0.7% to 0.8% from 1 January 2018. This means that Employer rates (combined PRSI and NTFL) for Classes A and H
increased by 0.1% from 1 January 2018.
Currently, 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%.
The cost to social insurance fund of raising the weekly 8.6% threshold to €400 is provided in the table.
|
Higher rate threshold |
€400 |
|
Cost |
€7.1m |
|
Employments affected |
29,279 |
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.
