PRSI Query.

Godsentme

More information.I have just compared this weeks pay slip with one from last year to see how much I've dropped in income.

The exact same hours. Same Total pay before deductions. e600.40.

2010
Gross earnings Deductions
Basic Pay. 525.52 PAYE 102.19
Unsocial Hours. 33.60 PRSI 42.95
Sunday Allowance.41.28 Income levy 12.01
Total. 600.40 SIPTU 4.76
Net Pay 438.43 Total deductions 161.97

2011
Gross earnings Deductions
Basic Pay. 525.52 PAYE 122.68
Unsocial Hours. 33.60 PRSI 18.94
Sunday Allowance.41.28 U.S.C. 28.93
Total. 600.40 SIPTU 4.76
Net pay 425.03 Total deductions 175.37

A difference of 13.4e. Well I can live with that.

But my query is why was my PRSI 20 euros more last year than this year?

1. Did I pay too much last year or am I paying too little this year?

I also get Widows pension e193.

namenotavailablE

My query is why was my PRSI 20 euros more last year than this year?
Did I pay too much last year or am I paying too little this year?

It is likely that your 2010 payslip combined both PRSI and the Health Levy into a single value (the Health Levy is now abolished).
The payslip's description is slightly misleading for 2010 as it doesn't indicate that the value also includes the Health Levy

Godsentme

Thanks for that N. But would that account for 20euro I wonder?

allthedoyles

your tax credits for 2011 have also been reduced by 10 %

kennyb3

Simple really. PRSI was made up of PRSI + Health contribution last year and was higher.

It is now only PRSI and the USC is shown seperately. look at 2010 and 2011 prsi guides on welfare.ie

barneystinson

Godsentme wrote: »

Thanks for that N. But would that account for 20euro I wonder?

Your PRSI (and Health Levy) last year was:

First €127 exempt from PRSI: €0.00
Remainder (600.40-127=473.40) @ 4%: €18.94
Health Levy €600.40 @ 4%: €24.01
Total "PRSI": €42.95

So looking at your breakdown for 2011 you'll see this year's PRSI is the same as last year's; except that the Health levy element no longer exists since USC arrived...

allthedoyles

And the income Levy has also been abolished since 31st December 2010 .

So all the talk about the USC been excessive is wrong . - it is only an extra 2 %.

Its all swings and roundabouts

Godsentme

Great stuff lads! its not as bad as I feared.:D

barneystinson

allthedoyles wrote: »

And the income Levy has also been abolished since 31st December 2010 .

So all the talk about the USC been excessive is wrong . - it is only an extra 2 %.

Its all swings and roundabouts

WHOA!!! A bit controversial there Ted!

I'll hazard a guess that you're not in the bracket of lower-income workers, who never had to pay the health levy or income levy. It's more than 2% for them, and they can afford to lose it less than higher earners.

For some people though it is less than 2%, but these aren't the lowest income earners, and this is a problem - I was surprised to find that between the swings and the roundabouts I end up being down €4.50 (less than 1% of my gross pay), while my partner (who works a 3-day week and earns less than half of what I do) is down €6.50 a week, nearly 3% of her Gross.

So in both absolute terms and proportionally, she is much more affected by the USC than I am. So I'd say it's definitely inequitable, and in the case of low earners, excessive (and we could argue all day about whether or not it is excessive in the case of higher earners...!)

allthedoyles

Hi op -
Just notice that you claim Widows Pension ,- ensure you claim tax credit as well , as your tax looks on the high side from the figures above .