Oireachtas Joint and Select Committees
Thursday, 20 September 2012
Joint Oireachtas Committee on Education and Social Protection
Actuarial Review of the Social Insurance Fund: Discussion
10:40 am
Ms Mary Kennedy:
The current contribution level for a class A employee is 14.75%, which is the 10.75% employer and 4% employee contribution. Self-employed contributors currently pay 4%. The report determined that the contribution level required for the State pension contributory for employees and self-employed would be 15%. The contribution rate for a self-employed person if jobseeker's benefit is added would be 16%, which equates to 15% for the SPC plus an additional 1% for jobseeker's benefit. If one wanted to provide cover for invalidity pension, which has also been mentioned, the contribution would be 17%.
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