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Social insurance fund in deficit

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    #2
    Tow
    Registered Users Posts: 6,427 ✭✭✭Tow


    Who: The Taxed Middle.
    How: Taxes.

    1.2 billion is only a few percent of the total Ireland Inc has spend on Covid. I would argue it was already in a deficit (when projected forward), as we have an ageing population and high state pension payment. This is why the government is trying to push forward pension auto-enrolment.

    When is the money (including lost growth) Michael Noonan took in the Pension Levy going to be paid back?



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    #3
    DmanDmythDledge
    Registered Users Posts: 883 ✭✭✭DmanDmythDledge


    Employers PRSI is certainly going to rise. Also now that self employed have 1650 earned income credit I would be surprised if they don't have to start paying some form of ER PRSI.

    I also think the 4% rate should rise but not while USC is still in play. Unfortunately the pandemic is likely to halt any reduction/removal of USC


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    #4
    Tow
    Registered Users Posts: 6,427 ✭✭✭Tow


    It is often forgotten that the 2% Health Levy was moved from PRSI into USC (Income Levy) when the USC was introduced.

    When is the money (including lost growth) Michael Noonan took in the Pension Levy going to be paid back?



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