John Paul Phelan (Carlow-Kilkenny, Fine Gael)
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365. To ask the Minister for Employment Affairs and Social Protection the estimated additional revenue which will be generated in 2024 from the increases to PRSI announced as part of the Budget; and if she will make a statement on the matter. [7432/24]

Heather Humphreys (Cavan-Monaghan, Fine Gael)
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A PRSI rate increase of 0.1% across all rates of PRSI (employer, employee and self-employed) from 1 October 2024 was announced in Budget 2024. In November 2023 the Government agreed to further increases as follows:

2025: 0.1 percentage points

2026: 0.15 percentage points

2027: 0.15 percentage points

2028: 0.2 percentage points

All of these PRSI increases will be effective from 1 October of each year.

The Government also agreed to increase the annual minimum contribution payment for Class S and the voluntary contribution for former self-employed contributors by €150 to €650 from 1 October 2024.

It is estimated that these increases will yield €62 million in 2024.