Written answers

Tuesday, 14 July 2015

Department of Social Protection

Social Insurance Yield

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)
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221. To ask the Minister for Social Protection the yield from each of a 1%, 2% and 3% increase in employee pay related social insurance in the first year and full year. [28802/15]

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)
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222. To ask the Minister for Social Protection the yield from each of a 1%, 2% and 3% increase in employer pay related social insurance in the first year and in a full year. [28803/15]

Photo of Joan BurtonJoan Burton (Dublin West, Labour)
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I propose to take Questions Nos. 221 and 222 together.

On the basis of the most up to date figures available, the table below shows the estimated yield for each of a 1%, 2% and 3% in increase in class A employee and employer PRSI in the first year and a full year.

Class A Employee PRSI YieldClass A Employer PRSI Yield
Rate increaseFirst YearFull YearFirst YearFull Year
€m€m€m€m
1%487.5573.5511.8602.1
2%975.01147.01023.61204.2
3%1462.51720.51535.41806.3
First year yields are a function of the chosen implementation date of PRSI changes in 2016. If implemented from January, it is estimated that 85% of the full year estimate is realised in the first year.

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