Social security contributions (PRSI) will be increased over five years to replenish the Social Security Fund, the Irish government has decided, RTÉ reports on November 22.
According to the government’s plan, the increase will be carried out gradually. Rates will increase for employers, employees and the self-employed.
For 2024, a rate increase of 0.1% was announced and in 2025 it is planned to increase it by the same amount. In 2026 and 2027, the rate is expected to increase by 0.15%, and in 2028 – by 0.2%.
It is argued that raising rates will allow the government not to raise the retirement age, which is currently 66.
Previously, the government agreed to introduce a new benefit system for unemployed job seekers. Those who lose their jobs will receive higher social benefits for nine months.
Source: Rossa Primavera
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