Oireachtas Joint and Select Committees

Wednesday, 31 January 2024

Joint Oireachtas Committee on Social Protection

General Scheme of the Social Welfare (Pay-Related Social Insurance and Jobseeker’s Pay-Related Benefit Provisions) Bill 2024: Department of Social Protection

Photo of Éamon Ó CuívÉamon Ó Cuív (Galway West, Fianna Fail) | Oireachtas source

I know it is not the purpose of this but this increase in pensions was mentioned in the briefing we got. One point I cannot get my head around is the fact that from an actuarial point of view, the best value is the self-employed at 4% compared to the 14% for employees. It is by far the best even when it was purely pensions because pensions are the most expensive contingency the Department is paying. It is a very good insurance policy. There is a proposal to increase PRSI for the self-employed except for the people at the bottom of the pile.

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