Heather Humphreys (Cavan-Monaghan, Fine Gael) | Oireachtas source

It provides that employed contributors born after 1 January 1958 who do not claim the contributory State pension between the ages of 66 and 70 are liable. The over-66s will have to pay it if they get share options, because they pay PRSI to get a higher pension when they retire. If you work longer, you get a higher pension. If they have to pay PRSI, we have to make sure they pay it on everything the same as everybody else. The payment of social insurance by over-66s who continue to work means their employers will be subject to employer PRSI. The share-based remuneration is predominantly associated with PRSI class A contributors and a 4% rate is paid. However, it may be applied to other classes, such as former public sector employees still on class D. We are trying to make sure anybody continuing on to increase credits and get a bigger pension is subject to the same rules as anybody under 66.