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PRSI Class S and Voluntary Contribution

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  • 09-09-2013 3:54pm
    #1
    Dortilolma
    Registered Users Posts: 255 ✭✭


    Currently self employed making in the region of 30K per year.

    I would like to pay more PRSI if I can - is it possible and would it even be worth doing?

    Primarily thinking about pension and maternity benefit for the future as I would like to maximize what is available to me.

    Any thoughts/suggestions?
    Tagged:


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    #2
    srsly78
    Registered Users Posts: 7,157 ✭✭✭srsly78


    You already get pension and maternity benefit from class S, paying more doesn't get you any more benefit. State Contributory Pension eligibility is calculated based on number of monthly contributions, not by amount of euros.

    http://www.welfare.ie/en/Pages/Self-Employed-Contributions.aspx


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    #3
    Dortilolma
    Registered Users Posts: 255 ✭✭Dortilolma


    I was finishing a degree in 2012 so only have 6 months PRSI payments - I was wondering if there was anyway I could pay for the other 6 months or do you have to have an income to pay PRSI?

    edit: I know it's 'pay related social insurance' and it may be a stupid question but I just wanted to be sure.


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    #4
    srsly78
    Registered Users Posts: 7,157 ✭✭✭srsly78


    Rules for maternity benefit here: http://www.welfare.ie/en/Pages/mb.aspx

    It's based on number of weeks in employment - not by how much you pay.

    If you have 26weeks paid out of 52 required then I think you can get half benefit.


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    #5
    Dortilolma
    Registered Users Posts: 255 ✭✭Dortilolma


    Thanks


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    #6
    Casey_b
    Registered Users Posts: 5 ✭Casey_b


    You can apply to become a Voluntary contributor foe any period where you are not compulsorily insured, however there are conditions. You need 364 Class A or Class S contributions already paid, as a student I suspect you will not have the 7 years of contributions required. However if you have you 364 already paid the minimum charge for anyone with no income is €500 per year (6.6% of income if you have some). Check out welfare.ie and look for the SW8 form which explains all. Cheers Brendan C


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    #7
    Dortilolma
    Registered Users Posts: 255 ✭✭Dortilolma


    Casey_b wrote: »
    You can apply to become a Voluntary contributor foe any period where you are not compulsorily insured, however there are conditions. You need 364 Class A or Class S contributions already paid, as a student I suspect you will not have the 7 years of contributions required. However if you have you 364 already paid the minimum charge for anyone with no income is €500 per year (6.6% of income if you have some). Check out welfare.ie and look for the SW8 form which explains all. Cheers Brendan C

    Thanks for that - I think I'm just shy of 364 already paid. I was working in PAYE employment for about 7 years prior to going back to education but I may not have enough contributions - I'll have to check.

    Thanks again.


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