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Prsi

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  • 09-11-2005 3:39pm
    #1
    GP
    Closed Accounts Posts: 250 ✭✭


    Hi

    I'm self-employed and just had to fork over ana mount for PRSI. Can anyone shed some light as to what exactly this is for, as revenue.ie doesn't have much info (or I can't find it).


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    #2
    kluivert
    Registered Users Posts: 2,399 ✭✭✭kluivert


    Prsi - Paye Related Social Insurance.

    Additional payment on top of income tax. Goes towards your old age pension, employment benefit, sick benefit etc (Social Welfare Payments) or you can claim against it on certain medical bills such as opticans.

    Rate depends on your earnings. Have a good look around the revenue.ie or oasis.ie for further advice.


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    #3
    GP
    Closed Accounts Posts: 250 ✭✭GP


    kluivert wrote:
    Prsi - Paye Related Social Insurance.

    Additional payment on top of income tax. Goes towards your old age pension, employment benefit, sick benefit etc (Social Welfare Payments) or you can claim against it on certain medical bills such as opticans.

    Rate depends on your earnings. Have a good look around the revenue.ie or oasis.ie for further advice.

    cool thanks.

    so when I reach 65 or whatever I can get 1 euro a month (or however much it will be worth by then ?)

    and what the heck is the Orphan fund / widow fund blah blah ??

    Just saw reference to them at welfare.ie



    p.s oasis.ie takes me to a watercooler company website (do get one for free when I pay PRSI ;-) )


    i think it's probably www.oasis.gov.ie


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    #4
    masterK
    Registered Users Posts: 2,757 ✭✭✭masterK


    When I was self employed a few years ago I called revenue to inquire about dental benefits from my PRSI, I was told the type of PRSI you pay when you were self employed does not entitle you to any dental benefits. I then asked the question what is it for, to which I got a response along the lines of 'I don't really know, I think it might go into the Pension Reserve fund or something like that'.


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    #5
    NaasMan
    Closed Accounts Posts: 24 ✭NaasMan


    kluivert wrote:
    Prsi - Paye Related Social Insurance.

    Additional payment on top of income tax. Goes towards your old age pension, employment benefit, sick benefit etc (Social Welfare Payments) or you can claim against it on certain medical bills such as opticans.

    Rate depends on your earnings. Have a good look around the revenue.ie or oasis.ie for further advice.

    You can get information on PRSI on welfare.ie. Self employed people pay class S PRSI which gives them limited social welfare benefits. The main benefits are Old Age (contributory) pension and Maternity benefit. They do not get Unemployment benefit, disability benefit/pension, Retirement (contributory) Pension or treatment benefits such as dential or optical benefits.

    So most Self employed people the only thing you get for their money is a Old Age pension of Euro 179 per week from age 66, were as People paying Class A PRSI get all the benefits and can pick up a Retirement pension at age 65 if they stop working.


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