Written answers
Tuesday, 11 October 2016
Department of Social Protection
Social Insurance Data
Joan Collins (Dublin South Central, Independent)
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242. To ask the Minister for Social Protection the amount which would accrue to the State if employers' PRSI was increased by 1%, 1.5% and 2% on all businesses and on businesses employing over 20 workers. [29269/16]
Leo Varadkar (Dublin West, Fine Gael)
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Currently class A employers pay PRSI at the rate of 8.5% where weekly earnings are between €38 and €376. Once weekly earnings exceed €376, the rate of employer PRSI is 10.75%.
The increase in the PRSI yield to the Social Insurance Fund from increasing the class A employer PRSI rates by 1%, 1.5% and 2%, is contained in the following table.
| % Increase in Rate of Employer PRSI | Increased Yield from Increase in 8.5% Lower Rate | Increased Yield from Increase in 10.75% Higher Rate | Total Increased Yield | Employments Affected |
|---|---|---|---|---|
| 1% | €37.3m | €634.1m | €671.4m | 2,433,475 |
| 1.5% | €56.0m | €951.2m | €1,007.1m | 2,433,475 |
| 2% | €74.6m | €1,268.2m | €1342.8m | 2,433,475 |
As the Department does not have data on the number of employees working for individual employers, it is not possible to provide an estimate of the increased yield if employer’s PRSI was increased by 1%, 1.5% and 2% on businesses employing over twenty workers.
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