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Employed Vs self employed for part time job

  • 20-07-2018 11:03am
    #1
    trixie11
    Registered Users, Registered Users 2 Posts: 55 ✭✭


    I have option to be employed or self-employed/contractor for a part time position (10-15hrs pw). I know nothing about being a contractor so would love to know pros and cons of it. Hourly rate is higher but is it worth it?
    I was working full time for last 10yrs and a family member is saying if I go self employed I will lose all prsi contributions etc I have from previous 10yrs. Is this true?


Comments

  • #2
    Squatter
    Closed Accounts Posts: 1,841 ✭✭✭Squatter


    trixie11 wrote: »

    I was working full time for last 10yrs and a family member is saying if I go self employed I will lose all prsi contributions etc I have from previous 10yrs. Is this true?

    Not exactly. You've paid all those PRSI contributions (plus credits if applicable) so they will remain on your PRSI record for the rest of your life - and possibly even longer!

    However, the issue that you may encounter down the road will be that if you go self-employed (i.e. pay a Class S contribution rather than Class A), then you won't be eligible for quite a few Social Welfare benefits. In essence, people paying Class S aren't covered for any short-term payments including illness and disability payments. And they're not covered for Jobseeker's Benefit.


    See here:-

    Class A Benefits

    Jobseeker's Benefit
    Illness Benefit
    Maternity Benefit
    Adoptive Benefit
    Health and Safety Benefit
    Invalidity Pension
    Widow/Widower's or Surviving Civil Partner's (Contributory) Pension
    Guardian's Payment (Contributory)
    State Pension (Contributory)
    Treatment Benefit
    Occupational Injuries Benefit
    Carer's Benefit


    Class S Benefits

    Maternity Benefit
    Adoptive Benefit
    Paternity Benefit
    Widow's, Widower's or Surviving Civil Partner's (Contributory) Pension
    State Pension (Contributory)
    Treatment Benefit Scheme
    Invalidity Pension

    As you can see, there's quite a difference!


  • #3
    allthedoyles
    Registered Users, Registered Users 2 Posts: 6,893 ✭✭✭allthedoyles


    As said above you cannot lose what you already have in contributions .

    If at any time you want to find out what you have in paid contributions , register/login to www.mywelfare.ie

    If you have a PSC card login to www.mygovid.ie - Once you get in there you will see where you can request a statement


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