PRSI


Pay-related social insurance (PRSI) is levied at the following rates. There were no PRSI changes in the October 2014 Budget.

Employee

Exempt: Earnings up to €352 per week.

4%:Earnings above €352 per week.

Employer PRSI

8.5%: Earnings up to €356 per week. (This was 4.25% for 2011-2013 inclusive).

10.75%: Earnings above €356 per week.

Self-employed PRSI

4%: All earnings. The minimum contribution is €500 per year.

Universal social charge

Exempt: Income below €12,012; all Department of Social Protection; income already subjected to DIRT.

1.5%: The first €12,012 of earnings.

3.5%: The next €5,564 of earnings.

7%: The next €52,467 of earnings. The 3.5% rate applies if the earner is aged 70 or over or is a medical card holder with income less than €60,000.

8%: Remainder. The rate is 11% (i.e., 8% plus 3% surcharge) in respect of non-employment income in excess of €100,000 (reduced to 8% if the earner is aged 70 or over).

A 5% USC charge applies to income sheltered by area-based property incentives (accelerated capital allowances and “section 23” reliefs).