PRSI contributions

geordief

What are the benefits of paying this?
I understand it is compulsory if you are self employed but presumably one has the option of no longer being self employed.
What happens then? (any chance of a refund?)
Are the contributions that have been paid over the years of any value?
To the best of my knowledge the pension based on these accumulated contributions is not much better than the state pension.
Is that the only benefit involved (the difference in the rate)?
I think this pension is also not means tested : so I can see how that is a value in itself.
Are there any other benefits or is that the sum total?

thanks

allthedoyles

There are many benefits for paying PRSI Contributions :
They are all listed on the following page :

http://www.citizensinformation.ie/en/social_welfare/irish_social_welfare_system/social_insurance_prsi/social_insurance_in_ireland.html

There is a wide range of benefits that are available to people who have paid social insurance. Entitlement to these benefits is dependent on a number of conditions other than the social insurance contribution requirement. The social insurance qualifying criteria vary, depending on what payment you are applying for.

geordief

thanks