PRSI & SOCIAL WELFARE
|
|
- Hester Golden
- 7 years ago
- Views:
Transcription
1 PRSI & SOCIAL WELFARE Historical Background PRSI is pay related social insurance, prior to 1979 Social Insurance contributions were not earnings related but operated on a flat rate basis. Significant changed were made in 1979 with regard to the administration of the Social Insurance System in Ireland. The Pay Related Social Insurance System is administered by the Department of Social & Family Affairs which provides a range of Social Welfare Benefits, the Health Contributions are administered by the Department of Health & Children. The 2005 Social Welfare (Consolidated) Act is an important piece of legislation as it brings together in a single act over 90 years of Social Welfare Law. Pay Related Social System An individual can be insured for Social Welfare purposes in one of three ways i.e. as: an employed contributor a self employed contributor a voluntary contribution Employed Contributor Persons are required to pay Social Insurance Contributions based on their level of income. These contributions provide entitlements to benefits under various Social Insurance schemes. Most employees pay the standard rate of contribution known as Class A which provides insurance for a full range of Social Insurance benefits. Employees of the Civil Service and the Public Service are in what is known as modified insurance. They pay a lower rate of contribution and they are insured for certain Social Insurance Benefits only. New entrants to the Public Service i.e. from 6 April 1995 are insurable at Class A. I have attach a Document relating to the difference PRSI classes and the rates of payment, under each class in your handout. Employees aged 16 or over and under 66 are compulsory insured. Employees aged under 16 came within the Scope of Class M i.e. a nil contribution. Employees over 66 years of age come within the Scope of Class K or J i.e. paying health contributions only.
2 Self Employed Contribution Class S is paid by self employed people such as Professional people for example doctors, dentists, solicitors etc certain company directors, people in business on their own account such as farmers, contractors, people with income from rents and/or from investments, employees who are also self employed in a trade or profession. PRSI Class S is payable on income from self employment in addition to the PRSI contributed as an employee. The contribution payable by self-employed contributions provide insurance for social welfare pensions i.e. survivors and old age contributory pensions, maternity benefit, funeral grant, however it does not give one an entitlement to full range of social welfare benefits i.e. retirement pension which is a pension at 65 years of age or to Treatment Benefits i.e. optical and dental. Company Directors with a shareholding of 50% or more with voting rights i.e. having a controlling interest come within the people of Class S. There is no specific provision under the Social Welfare Acts regarding the insurability of Company Directors. In cases where a director holds less than 50% of the voting shares it is more difficult to determine the PRSI rate applicable. In such cases it is advisable to seek a ruling from Scope Section of the Department of Social & Family Affairs. In Class S there is no employers contribution. The employee contribution is 3%, 5% or 5.5% depending on income. The pay band are set out on an attaching document. PRSI for self employed people came into effect on 6 April Voluntary Contribution There is an opportunity available to an individual to make voluntary contributions in order to enhance their benefit at retirement. There are certain conditions to be satisfied in order to qualify to make such contributions, one must be: A former employed contributor. A former self employed contributor. A person who cease to be an employed or a self employed contributor otherwise than by reason of reaching pensionable age and has qualifying contributions of not less than 260 weeks is entitled to make voluntary contributions. There is a time limit for the application i.e. within 12 months of when they last paid PRSI or had a PRSI credit. A former employed person. There is a maximum payment. Where one was previously paying Class A, the maximum payment is 6.6% of 48,800 which is 2,928. a former self employed contribution.
3 The contribution is set at 253 per year. Voluntary Contributions can be paid quarterly, half yearly or annually. The full contribution must be made within 5 months of the end of the relevant year. PRSI Classes As you know PRSI is divided into different classes. There are 11 different PRSI classes. A, B, C, D, E, H, J, K, M, P & S and in addition there are sub divisions for example within Class A there are AO, AX, AL, A1, A2. A8 & A9 i.e. 7 sub divisions. I will give you a brief description of the people covered by each of these main contribution classes.
4 Class A Class B Class C Class D Class E Class H Class J Class K Class M Class P Class S Employees in industrial commercial and service type employment with gross earnings of e38 or more a week, civil and public servants recruited from 6 April 1995 and Community Employment workers form 6 April 1996, Permanent and pensionable civil servants, doctors and dentists employed in the civil service and Gardai, recruited before 6 April Commissioned Army Officers and members of the Army Nursing Service recruited before 6 April Permanent and pensionable employees in the public service, other than those mentioned in Classes B and C, recruited before 6 April Ministers of religion employed by the Church of Ireland Representative Body. Non-Commissioned Officers and enlisted personnel of the Defence Forces. Employees in industrial, commercial and service-type employment with gross earnings of less than 38 a week. People insured for Occupational Injuries Benefits only, for example employees age 66 or over. People taking part in certain FÁS training schemes insurable for Occupational Injuries Benefits only. People in secondary employments who are also full-time civil and public sector employees and paying PRSI Class B, C, D or H in their full-time job. People who are employed as attendants at or in connection with examinations held by the Department of Education and Science. People who are employed as presiding officers or poll clerks at elections. People who pay only the Health Contribution on their income such as occupational pensions, income from employment of certain office holders (for example judges and State solicitors) and income of people aged 66 to 70 previously liable for Class S, People who do not pay PRSI, for example, employees under age 16 and people within Class K who do not pay PRSI (medical card holders, widows and widowers, people aged 70 or over). Self-employed people whose main income comes from share fishing, Self-employed people such as farmers, certain company directors, sole traders and people with income from investments, rents and maintenance where the income is 3,174 or more a year from all sources.
5 Married Couples Liability to self employed contributions applies separately to each spouse. Reckonable Income is therefore calculated separately in each case and each person is liable for his or her own contributions. This applies whether the couple have elected to be assessed to income tax jointly or as single persons. Example In the 2006 contribution year, one spouse has taxable profits from a trade of 30,000 while the other spouse has investment income from Government Stock of 4,000. Self-employment contribution is calculated in each case as follows: Spouse With Trading Income Reckonable income 30,000 Self-employed contribution 5% 1,500 Spouse with Investment Income Reckonable income 4,000 Self-employed contribution 3% 120 But the minimum contribution of 254 applies to the spouse with the Investment Income. Maintenance Payments The person in receipt of the maintenance payments is liable to PRSI but the person who pays the legally enforced payments under a maintenance agreement is entitled to claim back the Social Insurance contribution. This PRSI relief applies to employment, self employment and voluntary contributions. This is covered by Section 23 of the Social Welfare Act 2000 and came into operation on 6 April The payments made under the Maintenance Agreement are also exempt from Health Contributions. Deductions Employees There are deduction, which are deducted prior to the calculation of PRSI from employees such as pension contributions (Revenue approved Schemes and AVC s additional Voluntary Contributions).
6 The contributions vary accordingly to the age of the employee. Age % of Net Relevant Earnings Up to 30 years of age 15% 30 but less than 40 20% 40 but less than 50 25% 50 but less than 55 30% 55 but less than 60 35% 60 years or over 40% The above values are based on a maximum salary of 254,000 per year. I set out hereunder a calculation example: John Murphy earns 450 per week and contributes 55 to a Revenue approved Pension scheme. Calculation of Employee and Employer PRSI contributions under class A. John Murphy s salary after pension is PRSI Class AL Gross Pay = Less Pension = X 0% Levy = X 4% (PRSI Rate) = Employer PRSI Contributions Total Employee PRSI = Gross Pay = Less Pension = X (PRSI Rate) = The Employer must pay on behalf of John Murphy Self Employed Contribution There is a difference in the calculation of taxable income for income tax purposes and reckonable income for self employment contributions. This is best illustrated by an example
7 Example Trading profits for tax purposes 20,000 Losses Forward 4,000 Capital Allowances 1,000 Retirement Annuity 700 Income Tax Social Insurance Trading Profit 20,000 20,000 Less Loss Relief (4,000) - Capital Allowances (1,000) (1,000) Retirement Annuity (700) - For income tax purposes tax income is 14,300 while for social insurance purposes income is 19,000. Lump Sum Termination Payments Statutory Redundancy no PRSI and/or Health Contributions liability. Lump sum payments made to employees on termination of employment are not regarded as reckonable earnings for employment contributions. However, the taxable element of a termination payment attracts the health contributions at 2%. Example An individual receives a lump sum termination payment of 30,000 and is entitled to a tax exemption of 20,000 in respect of the payment. The position regarding PRSI is as follows: Lump Sum 30,000 Tax exemption (20,000) Taxable lump sum 10,000 Employers contribution Nil Health contribution employee 2% 200 Total Liability 200
8 Social Welfare Payments/Benefits There are approximately 50 different benefits/payments from the Department of Social & Family Affairs. There are child related payments, Illness, disability and caring payments, Employment Support payments, payments to widows, widowers and one parent families, payment for retired and for older people, there is a Supplementary Welfare Allowance for low income families. There are also payments which are categorised by the Department of Social & Family Affairs as Extra Benefits for example Bereavement Grant, Free Television Licence, Telephone Allowance and a Fuel Allowance. To help fund all of the above PRSI is payable. Benefits under the various categories are as follows: Payments for Retired/Older People State Pension (Transition) i.e. retirement pension which is payable at 65 years of age State Pension (Contributory) payable at 66 years of age State Pension (Non-Contributory) payable at 66 years of age Pre-Retirement Allowance Widows, Widowers and One-Parent Families Widow s/widower s (Contributory) Pension Deserted Wife s Benefit Widowed Parent Grant Widow s/widower s (Non-Contributory) Pension Deserted Wife s Allowance Prisoner s Wife s Allowance One-Parent Family Payment Child Related Payments Child Benefit Maternity Benefit Adoptive Benefit Health & Safety Benefit Guardian s Payment (Contributory) Guardian s Payment (Non-Contributory) Back to School Clothing & Footwear Allowance Illness, Disability And Caring Illness Benefit Invalidity Pension Disability Allowance Blind Pension Respite Care Grant Carer s Benefit Carer s Allowance
9 Injury Benefit Incapacity Supplement Constant Attendance Allowance Disablement Benefit Medical Care Scheme Employment Supports Family Income Supplement Farm Assist Back to Work Allowance (Employees) Back to Work Enterprise Allowance Part-time Job Incentive Scheme Back to Education Allowance Extra Benefits Bereavement Grant Widowed Parent Grant Fuel Allowance and the Smokeless Fuel Allowance Electricity Allowance Natural Gas Allowance Bottled Gas Refill Allowance Free Television Licence Telephone Allowance Supplementary Welfare Allowance Supplementary Welfare Allowance In addition there are payments made which are completely funded by the Exchequer, there are child benefit payments, these are made regardless of family means or PRSI payments and Free Travel for people of pensionable age. This does not depend on the individuals PRSI record nor does it require the recipient to be means tested.
10 What Benefits may I get under each PRSI class? Benefit Class Class Class Class Class Class Class Class Class A J S B C D E H P Adoptive Benefit Bereavement Grant Carer s Benefit Disability * Benefit Health and Safety Benefit Invalidity Pension Maternity Benefit Occupational Injuries Benefit Old Age Contributory Pension Orphan s Contributory Allowance Retirement Pension Treatment Benefit Widow s or Widower s Contributory Pension
11
Social insurance and the self-employed
Social insurance and the self-employed 1 Who pays self-employed Pay Related Social Insurance (PRSI)? All self-employed people aged 16 or over, and under pensionable age (currently 66) with reckonable income
More informationPRSI contribution rates and user guide from 1 January 2015. PRSI changes from 1 January 2015 SW 14
SW 14 PRSI changes from 1 January 2015 There were no PRSI changes announced in the October 2014 Budget. PRSI contribution rates and user guide from 1 January 2015 This booklet is intended as a guide only,
More informationHow To Get A Childminder Tax Break In European Tax Law
for childminders 2009 This document was originally developed by Kerry County Childcare Committee. This edition was produced by the County Childcare Committees of Donegal, Leitrim, Roscommon and Sligo INTRODUCTION
More informationQualifying for State pension (contributory) Frequently Asked Questions
Qualifying for State pension (contributory) Frequently Asked Questions 1. At what age can I qualify for State pension contributory? From January 2014, pension age in Ireland became 66. This, means that
More informationFinancial Support Service Unit
Financial Support Service Unit 2007/08 Financial Guideline 06 Tel: (01) 269 0677 Fax: (01) 202 8219 Email: fssu@secretariat.ie Website: www.jmb.ie PAYROLL GUIDELINE Remuneration All remuneration payments
More informationWorking It Out - A Guide to State Pension (Contributory)
Working It Out - A Guide to State Pension (Contributory) Contents 1. What is this guide about? 3 2. What types of social insurance contributions are there? 3 2. What if I was a Homemaker? 3 2. How do I
More informationContents. Carer s Allowance
Carer s Allowance Contents 1. What is Carer s Allowance? 3 2. Can I get Carer s Allowance if I am getting another payment from this Department? 3 3. How do I qualify? 4 4. What does full-time care and
More informationRevenue Operational Manual 0.0.0. Compliance Programme for Agent Services representing PAYE Taxpayers
Compliance Programme for Agent Services representing PAYE Taxpayers 1 Contents 1. Introduction...3 2. Summary of Changes to Arrangements...3 3. Updated Revised Arrangements...4 4. Compliance Programme...6
More informationUnited Kingdom. Old Age, Disability, and Survivors. United Kingdom. Exchange rate: US$1.00 = 0.64 pounds ( ). Qualifying Conditions
United Kingdom Exchange rate: US$1.00 = 0.64 pounds ( ). Old Age, Disability, and Survivors First laws: 1908 (old-age pension), 1911 (disability insurance), and 1925 (old-age and survivors insurance).
More informationWhat are my Pension Options?
What are my Pension Options? The types of pension plans you can use to save for your retirement www.pensionsboard.ie www.pensionsboard.ie Verschoyle House 28/30 Lower Mount Street Dublin 2 Tel 01 613 1900
More informationContents. Part-time Job Incentive Scheme
Part-time Job Incentive Scheme Contents 1. What is the Part-Time Job Incentive scheme? 3 2. Who is eligible? 3 3. How to take part 4 4. How much is the allowance? 4 5. How is the allowance paid? 4 6. How
More informationContents. Injury Benefit
Injury Benefit Contents 1 What is Injury Benefit? 3 2 How do I qualify? 4 3 How much can I get? 5 4 How do I get my payment? 8 5 How long does payment last? 9 6 When and how do I apply? 9 7 Can I get Injury
More informationEntitlements for People with Disabilities
Entitlements for People with Disabilities Preface This is the thirteenth edition of Entitlements for people with disabilities published by the Citizens Information Board. The Board is the national agency
More informationSocial Welfare Benefits and Entitlements
Social Welfare Benefits and Entitlements 104 LIVING IN IRELAND 1 Introduction This section outlines benefits and entitlements that you may be eligible for under the Social Welfare system in Ireland. It
More informationTAX STRATEGY GROUP PAY RELATED SOCIAL INSURANCE CHANGES
TSG 12/07 TAX STRATEGY GROUP PAY RELATED SOCIAL INSURANCE CHANGES Introduction 1. This paper sets the principal policy issues relating to any consideration of PRSI changes in Budget 2013. It reviews developments
More informationContents. State Pension (Non-Contributory)
State Pension (Non-Contributory) Contents 1. What is the State Pension (Non-Contributory)? 3 2. How do I qualify? 3 3. What is the means test? 4 4. How much can I get? 8 5. What other increases may I get?
More informationWhat are my pension options?
A guide on pension provision and the types of pension plans you can use to save for your retirement www.pensionsauthority.ie The Pensions Authority Verschoyle House 28/30 Lower Mount Street Dublin 2 Tel:
More informationContents. Illness Benefit
Contents 1. What is Illness Benefit? 3 2. How do I qualify? 3 3. What are the PRSI conditions for Illness Benefit? 3 4. Does social insurance outside Ireland count? 5 5. Can I still receive Illness Benefit
More information2. What types of social insurance contributions are there? 3. 3. How do I qualify for Widow s or Widower s Contributory Pension? 4
Working It Out - A Guide to Widow s or Widower s Contributory Pension Contents 1. What is this guide about? 3 2. What types of social insurance contributions are there? 3 3. How do I qualify for Widow
More information[15.1.32] Revenue Job Assist
[15.1.32] Revenue Job Assist Reviewed June 2015 NOTE: The Revenue Job Assist Scheme and the Employer Job (PRSI) Incentive Scheme ceased permanently in respect of all employments commencing on or after
More informationYou need a Personal Public Service Number (PPS No.) before you apply.
Application form for Invalidity Pension Social Welfare Services INV 1 Data Classification R You need a Personal Public Service Number (PPS.) before you apply. How to complete this application form. Please
More informationYour social security rights
----- Your social security rights in Ireland The information provided in this guide has been drafted and updated in close collaboration with the national correspondents of the Mutual Information System
More informationBack to Education Programme 3. A Back to Education Allowance (BTEA)
Contents Back to Education Programme 3 A Back to Education Allowance (BTEA) 1. What is the Back to Education Allowance (BTEA)? 4 2. What are the study options? 4 3. How do I qualify for BTEA? 6 4. How
More information1 What is the purpose of the Agreement? 3. 2 Who does this Agreement cover? 3. 3 Which payments are covered by the Agreement? 4
Contents 1 What is the purpose of the Agreement? 3 2 Who does this Agreement cover? 3 3 Which payments are covered by the Agreement? 4 4 Which country s Social Security laws apply? 5 5 How does the Agreement
More informationA SIMPLE GUIDE TO UNDERSTANDING DAILY RATE CONTRACTING
A SIMPLE GUIDE TO UNDERSTANDING DAILY RATE CONTRACTING 2016 TABLE OF CONTENT SECTION 1. WHAT IS DAILY RATE CONTRACTING? SECTION 2. MOVING FROM PERMANENT TO CONTRACT WORK SECTION 3. SOCIAL WELFARE ENTILEMENTS
More informationBenefit and Pension Rates
Benefit and Pension Rates April 2014 2 How much money you could get If you are claiming or are thinking of claiming a benefit, you may want to know how much money you could get. If you are already getting
More informationInformation for The Self-Employed The St. Christopher and Nevis Social Security Board
Striving for Social Justice Information for The Self-Employed The St. Christopher and Nevis Social Security Board The St. Christopher and Nevis Social Security Board St. Christopher and Nevis Social Security
More informationIncome Levy. Frequently Asked Questions
Income Levy Frequently Asked Questions 24 September 2010 Changes in the FAQ document published today, 24 September 2010 New FAQ 3.8 What income levy should I include in my preliminary tax for 2010? New
More informationGuide to Calculating your Income Tax Liability for 2001 - Additional Notes -
Guide to Calculating your Income Tax Liability for 2001 - Additional Notes - The purpose of these additional notes is to help you compute some of the more difficult calculations that you will need to do
More informationPensions. Information for Scheme Members. in the format of Frequently Asked Questions
Pensions Information for Scheme Members in the format of Frequently Asked Questions Designed & Printed by the Revenue Printing Centre January 2015 RPC005668_EN_PR_L_1.indd Preface The information in the
More informationRelate. Contributory State pensions. May 2012. Contents. The journal of developments in social services, policy and legislation in Ireland
May 2012 Volume 39: Issue 5 ISSN 0790-4290 Contents Relate The journal of developments in social services, policy and legislation in Ireland Page No. 2 Who qualifies for a State Pension? 2 Social insurance
More informationFAQ 1. Introduction: A scheme member s entitlement to information annually.
FAQ 1 Established Civil Servants (including Prison Officers) who pay Modified (Class B) PRSI and are not making an employee contribution in respect of personal superannuation benefits Introduction: A scheme
More information[05.05.19] Payments on Termination of an Office or Employment or a Change in its Functions
[05.05.19] Payments on Termination of an Office or Employment or a Change in its Functions Contents Sections 123 and 201, and Schedule 3 of the Taxes Consolidation Act, 1997 Updated April 2014 1. Introduction...3
More informationFAQ 3. Non Contributory Pension Scheme for Non-Established State Employees (as applicable to Non-Established Civil Servants)
FAQ 3 Non Contributory Pension Scheme for Non-Established State Employees (as applicable to Non-Established Civil Servants) Introduction: A member s entitlement to information annually. 1. Who is eligible
More informationSTATUTORY INSTRUMENTS. S.I. No. 582 of 2014 RULES FOR PRE-EXISTING PUBLIC SERVICE PENSION SCHEME MEMBERS REGULATIONS 2014
STATUTORY INSTRUMENTS. S.I. No. 582 of 2014 RULES FOR PRE-EXISTING PUBLIC SERVICE PENSION SCHEME MEMBERS REGULATIONS 2014 2 [582] S.I. No. 582 of 2014 RULES FOR PRE-EXISTING PUBLIC SERVICE PENSION SCHEME
More informationLatest revision date: 23 July 2009. Pension-related deduction from the remuneration of public servants. Frequently Asked Questions
Latest revision date: 23 July 2009 Pension-related deduction from the remuneration of public servants Frequently Asked Questions Updated to reflect revised rates/bands effective 1 May 2009 Frequently Asked
More informationLOCAL GOVERNMENT SUPERANNUATION SCHEME
LOCAL GOVERNMENT SUPERANNUATION SCHEME SUPERANNUATION SCHEMES (REPRODUCED WITH THE KIND PERMISSION OF THE SUPERANNUATION SECTION, DEPT. OF THE ENVIRONMENT AND LOCAL GOVERNMENT) 1 The pensions legislation
More informationUniversal Social Charge. Frequently Asked Questions
Universal Social Charge Frequently Asked Questions 10 July 2015 These FAQs have been updated on 10 July 2015. The changes from the previous version (published on 31 October 2014) are listed hereunder.
More informationAustralia. Old Age, Disability, and Survivors. Australia. Exchange rate: US$1.00 equals 1.32 Australian dollars (A$). Qualifying Conditions
Australia Exchange rate: US$1.00 equals 1.32 Australian dollars (A$). Old Age, Disability, and Survivors First laws: 1908 (old-age and disability) and 1942 (widows). Current laws: 1991 (social security),
More informationRelate. June 2010. Contents. The journal of developments in social services, policy and legislation in Ireland. Entitlement to benefits
June 2010 Volume 37: Issue 6 ISSN 0790-4290 Contents Relate The journal of developments in social services, policy and legislation in Ireland Page No. 1 Entitlement to benefits This covers self-employed
More informationBenefit and Pension Rates
Benefit and Pension Rates This leaflet is only a copy of selected information taken from www.gov.uk on 6 April 2016. The latest information is always available online. This leaflet is for guidance only
More informationEmployers guide to the Pay-Related Social Insurance (PRSI) contribution system
Employers Guide Employers guide to the Pay-Related Social Insurance (PRSI) contribution system The Department of Social and Family Affairs has compiled this booklet as a guide for employers. It has no
More informationPlease use BLOCK LETTERS and place an X in the relevant boxes. Please answer all questions that apply to you.
Application form for Blind Pension Social Welfare Services BP 1 Data Classification R How to complete this application form. Please use this page as a guide to filling in this form. Please use black ball
More informationSOCIAL SECURITY BENEFIT RATES. Common rules capital limits. Common rules deductions
SOCIAL SECURITY BENEFIT RATES APRIL 2016 (All weekly rates unless otherwise stated) T = taxable benefits M = means tested, i.e. the level of income/capital will determine benefits. Common rules capital
More informationNumber 22 of 2008 SOCIAL WELFARE (MISCELLANEOUS PROVISIONS) ACT 2008 ARRANGEMENT OF SECTIONS PART 1 PRELIMINARY AND GENERAL
Number 22 of 2008 SOCIAL WELFARE (MISCELLANEOUS PROVISIONS) ACT 2008 ARRANGEMENT OF SECTIONS PART 1 PRELIMINARY AND GENERAL Section 1. Short title, construction, collective citations and commencement.
More informationINCOME TAX RATES OF TAX 2014/2015 2015/2016
INCOME TAX RATES OF TAX Starting rate for savings* 10% 0% Basic rate 20% 20% Higher rate 40% 40% Additional rate 45% 45% Starting rate limit 2,880* 5,000* Threshold of taxable income above which higher
More informationSurvivor and death benefits
Survivor and death benefits January 2011 The Teachers Pension Scheme (TPS) provides important benefits which may be paid to your beneficiaries after your death. within 2 years of TP becoming aware of the
More informationIntroduction. Information on transferring payments to the UK 37. National Insurance Number 46. Jobseekers allowance 52.
Introduction XX Information on transferring payments to the UK 37 National Insurance Number 46 Jobseekers allowance 52 Crisis loans 60 Income support 65 Working Tax Credit 73 Statutory Sick Pay 78 Incapacity
More informationWhat is Redundancy? What is the Statutory Redundancy Payment?
What is Redundancy? Redundancy is where an employee s position ceases to exist and the employee is not replaced. An employee aged 16 years or over with 2 years (104 weeks ) continuous service with an employer
More informationUniversal Social Charge. Frequently Asked Questions
Universal Social Charge Frequently Asked Questions 23 October 2015 These FAQs have been updated on 23 October 2015. The changes from the previous version (published on 10 July 2015) are listed hereunder.
More informationPensions Information for Scheme Members in the format of Frequently Asked Questions
Pensions Information for Scheme Members in the format of Frequently Asked Questions RPC005769_EN_PR_L_1.indd Feb 2015 Designed & Printed by the Revenue Printing Centre Preface The information in the F.A.Qs
More informationSocial assistance: 2% of covered payroll. Government. Social insurance: None; contributes as an employer. Social assistance: Any deficit.
Barbados Exchange rate: US$1.00 = 2.02 Barbadian dollars (B$). Old Age, Disability, and Survivors First law: 1937 (social assistance). Current law: 1966 (social insurance). Type of program: Social insurance
More informationYour Guide to Retirement Options
Your Guide to Retirement Options Contents Introduction 3 Overview 4 Personal Pension Plans/PRSAs 5 Defined Contribution Company Pension Plans 8 Additional Voluntary Contributions (AVCs) 11 Retirement
More informationCONVENTION ON SOCIAL SECURITY BETWEEN THE GOVERNMENT OF THE REPUBLIC OF MALTA AND THE
CONVENTION ON SOCIAL SECURITY BETWEEN THE GOVERNMENT OF THE REPUBLIC OF MALTA AND THE Government OF THE UNITED KINGDOM OF GREAT BRITAIN AND NORTHERN IRELAND (In force as from 1 st September 1996) The Government
More informationAn Adviser s Guide to Pensions
An Adviser s Guide to Pensions 1 An Adviser s Guide to Pensions Contents: Section 1: Personal Pensions 1.1 Eligibility 1.2 Maximum Benefits 1.3 Contributions & Tax Relief 1.4 Death Benefits 1.5 Retirement
More informationUse of Intermediary-type Structures and Self-employment Arrangements. Department of Finance and Department of Social Protection
Use of Intermediary-type Structures and Self-employment Arrangements Department of Finance and Department of Social Protection 1. Purpose of consultation Consultation Paper, January 2016 The purpose of
More informationFirst and current law: 1965 (social security fund), with amendments.
Page 1 of 6 Social Security Programs Throughout the World: Africa, 2009 You are here: Social Security Online > Research, Statistics, & Policy Analysis > Program Descriptions > Social Security Programs
More informationSCHEME GUIDE NHS Pension Scheme. Pensions
SCHEME GUIDE NHS Pension Scheme Pensions Introduction Welcome to the member guide to the NHS Pension Scheme (the Scheme), the pension scheme for NHS workers. The term NHS worker includes people directly
More informationPensions Information for Scheme Members in the format of Frequently Asked Questions
Pensions Information for Scheme Members in the format of Frequently Asked Questions RPC005770_EN_PR_L_1.indd Feb 2015 Designed & Printed by the Revenue Printing Centre Preface The information in the F.A.Qs
More informationCHAPTER 21 RETIREMENT ANNUITY CONTRACTS. Revised July, 2013
CHAPTER 21 RETIREMENT ANNUITY CONTRACTS Revised July, 2013 Introduction 21.1 The legislation governing retirement annuity contracts (RACs), often referred to as personal pensions, is contained in Sections
More informationYour Guide to Retirement Options
Your Guide to Retirement Options Contents Introduction 3 Overview 4 Personal Pension Plans/PRSAs 5 Defined Contribution Company Pension Plans 8 Additional Voluntary Contributions (AVCs) 11 Retirement Bonds
More informationIntroduction... Distinctive Features of the Benefits Environment... Key Changes in Recent Years...
Table of Contents Introduction... Distinctive Features of the Benefits Environment... Key Changes in Recent Years... 2 3 4 Statutory/Mandatory Programs... 5... 5 Retirement Benefits... 6 Death Benefits...
More informationSupports and information for the self-employed
Supports and information for the self-employed Self-employment and means tests? Jobseeker s Allowance? Going back to education? Supports for setting up a business? Universal Social Charge? Tax? PRSI and
More informationCircular 4/2006: Purchase of notional service for superannuation purposes by Established Civil Servants and by Non-Established State Employees.
Ref. P18/51/05 27 June 2006 Circular 4/2006: Purchase of notional service for superannuation purposes by Established Civil Servants and by Non-Established State Employees. A Dhuine Uasail, Part I: Established
More informationFoster and adult placement carers
Help Sheet 236 Tax year 6 April 2008 to 5 April 2009 Foster and adult placement carers This Help Sheet gives you information to help you fill in boxes in: the Self-employment (short) and (full) pages of
More informationFINLAND. Nomenclature
FINLAND Nomenclature KEL KIEL KVTEL LEL MEL MYEL PEL TAEL TEL VEL VPEL YEL The National Pension Act (old age, disability) The Evangelical-Lutheran church Pension Act The Local Government Employees Pension
More informationTax offsets QUESTION 19 SPOUSE TAX OFFSETS STOP NOTE. Did you have a spouse married or de facto?
Tax offsets 19 QUESTION 19 SPOUSE TAX OFFSETS Did you have a spouse married or de facto? STOP If you maintained a child or a student, you cannot complete your tax return using Retirees TaxPack 2004 see
More informationChapter 26. Tax Relief for Pension Contributions: Application of Earnings Limit
Chapter 26 Tax Relief for Pension Contributions: Application of Earnings Limit Created June, 2013 Introduction 26.1 Section 790A TCA 1997 provides that an aggregate earnings limit is to apply for the purposes
More informationMedical Card/GP Visit Card National Assessment Guidelines for People aged 70 years and over
Medical Card/GP Visit Card National Assessment Guidelines for People aged 70 years and over February 2015 1 Contents 1 PREFACE 3 2 INTRODUCTION 5 2.1 MEDICAL CARD ENTITLEMENT 5 2.1.1 GP VISIT CARD ENTITLEMENT
More informationCentrelink payments and entitlements, pension bonus scheme and work bonus
Centrelink payments and entitlements, pension bonus scheme and work bonus 1 January 2014 While there are many different Centrelink payments and entitlements available, in this flyer we have outlined the
More informationHuman Resources. Employee Payroll FAQ
Human Resources RESOURCE DOCUMENT - V1. 2014 PAGE 1 OF 10 FAQ Index 1. What should I do if I am commencing employment in Ireland for the first time? 2. What should I do if I am moving employment? 3. What
More informationYour social security rights in
Your social security rights in Ireland A guide for EU Citizens from the Department of Social and Family Affairs Introduction This guide gives information on the social welfare payments available in Ireland
More informationDefined Contribution Pension Plan. Employee Brochure
Defined Contribution Pension Plan Employee Brochure This brochure describes your Defined Contribution Pension Plan, the aim of which is to help you provide financially for your retirement. This plan is
More informationEast Riding of Yorkshire Council Council Tax Support Scheme A summary of the scheme for Pension Age and Working Age persons 2016/2017
East Riding of Yorkshire Council Council Tax Support Scheme A summary of the scheme for Pension Age and Working Age persons 2016/2017 1 Introduction... 3 The council tax support scheme for Pensioners (persons
More informationThe Local Government Pension Scheme
The Local Government Pension Scheme A short guide Dorset County Pension Fund The Scheme The Local Government Pension Scheme (LGPS) is a tax approved, defined benefit occupational pension scheme. The benefits
More informationRelate. Paying for hospital and nursing home care. December 2009. Introduction. Contents
December 2009 Volume 36: Issue 15 ISSN 0790-4290 Contents Relate The journal of developments in social services, policy and legislation in Ireland Page No. 1 Paying for hospital and nursing home care 2
More informationNumber 38 of 2013. Social Welfare and Pensions Act 2013
Number 38 of 2013 Social Welfare and Pensions Act 2013 Number 38 of 2013 SOCIAL WELFARE AND PENSIONS ACT 2013 CONTENTS PART 1 PRELIMINARY AND GENERAL Section 1. Short title, construction, collective citations
More informationPENSIONS AT A GLANCE 2009: RETIREMENT INCOME SYSTEMS IN OECD COUNTRIES UNITED STATES
PENSIONS AT A GLANCE 29: RETIREMENT INCOME SYSTEMS IN OECD COUNTRIES Online Country Profiles, including personal income tax and social security contributions UNITED STATES United States: pension system
More informationThe information given in this factsheet is applicable throughout the UK.
Factsheet 19 April 2014 About this factsheet The gives people of age a regular income to live on. The current age for men is 65 and the age for women is increasing from 60 so that it will be equalised
More informationAdvisory Group on Tax and Social Welfare. Third Report: Extending Social Insurance Coverage for the Self- Employed
Report to the Minister for Social Protection on Extending Social Insurance Coverage for the Self-Employed Advisory Group on Tax and Social Welfare Third Report: Extending Social Insurance Coverage for
More informationSmart Pensions salary exchange. what it means
Smart salary exchange what it means to you How the salary exchange agreement works Smart is a salary exchange agreement which allows both you and the company to make National Insurance Contribution (NIC)
More informationYour guide to the Universities Superannuation Scheme
Your guide to the Universities Superannuation Scheme February 2016 02 Contents The document contains the following sections: Contents 02 About this guide 03 Your USS at a glance 04 Joining the scheme 05
More informationBudget Changes and Tax Tips for 2010
Budget Changes and Tax Tips for 2010 John Norris Farm Management Specialist Teagasc Kildalton Introduction Recent figures from the Teagasc National Farm Survey (NFS) showed that overall family farm incomes
More informationSTATUTORY INSTRUMENTS. S.I. No. 155 of 2015 STUDENT GRANT SCHEME 2015
STATUTORY INSTRUMENTS. S.I. No. 155 of 2015 STUDENT GRANT SCHEME 2015 2 [155] S.I. No. 155 of 2015 STUDENT GRANT SCHEME 2015 ARRANGEMENT OF SCHEME Part 1 Preliminary and general 1. Citation. 2. Commencement
More informationTitle: The Department for Work and Pensions - Social Security Benefit Up-rating
Title: The Department for Work and Pensions - Social Security Benefit Up-rating The Minister for Pensions (Steve Webb): I am pleased to announce the proposed rates of benefit for 2011, which are set out
More information[7.1.32] Rent-A-Room Relief
[7.1.32] Rent-A-Room Relief 1. Introduction Sums arising to an individual in respect of the letting, for residential purposes, of a room or rooms in his/her home, including, for example, sums arising from
More informationCOMPLETE SOLUTIONS COMPANY PENSION PLAN
PENSIONS INVESTMENTS LIFE INSURANCE COMPLETE SOLUTIONS COMPANY PENSION PLAN APPLICATION DETAILS PLEASE READ THE QUESTIONS CAREFULLY BEFORE ANSWERING THEM AND USE BLOCK CAPITALS. If any item is blank or
More informationSocial Security Programs Throughout the World: The Americas, 2007
Social Security Programs Throughout the World: The Americas, 2007 Social Security Administration Office of Retirement and Disability Policy Office of Research, Evaluation, and Statistics 500 E Street,
More information- on termination due to redundancy
The Increased Tax on Lump Sum Termination Payments By Ray Stevens (USA) INTRODUCTION In May, 1983, the Government announced increases in the taxation payable on lump sum superannuation benefits and on
More informationCurrent Year Income Assessment Form Academic Year 2015/16
urrent Year Income Assessment Form Academic Year 2015/16 Personal details Your ustomer Reference Number Your ustomer Reference Number Name Name Date of birth Date of birth Address Address Postcode Postcode
More informationSchedule of proposed benefit rates from April 2013
Schedule of proposed benefit rates from April 2013 RATES RATES (Weekly rates unless otherwise shown) 2012 2013 ATTENDANCE ALLOWANCE higher rate 77.45 79.15 lower rate 51.85 53.00 BEREAVEMENT BENEFIT Bereavement
More informationDementia Money and Legal Matters: a Guide. Community Care Long Term Care Welfare Benefits Council Tax Discounts Attendance Allowance Further Reading
Dementia Money and Legal Matters: a Guide Community Care Long Term Care Welfare Benefits Council Tax Discounts Attendance Allowance Further Reading Volume 2 January 2010 To the best of our knowledge and
More informationEmployees. Table of Contents
Table of Contents 1. Introduction 2 2. Recruitment 2 3. Pay and Leave Administration 5 3.1 Pay Administration 5 3.2 Leave Administration 7 4. Benefits 10 5. Employee Assistance Program 12 6. Conflict Resolution
More informationProposed benefit and pension rates 2014 to 2015
RATES RATES (Weekly rates unless otherwise shown) 2013 2014 ATTENDANCE ALLOWANCE higher rate 79.15 81.30 lower rate 53.00 54.45 BEREAVEMENT BENEFIT Bereavement payment (lump sum) 2000.00 2000.00 Widowed
More information1. What is Maternity Benefit? 3. 2. How do I qualify? 3. 3. What are the PRSI contribution conditions? 4
Maternity Benefit Contents 1. What is Maternity Benefit? 3 2. How do I qualify? 3 3. What are the PRSI contribution conditions? 4 4. Does social insurance outside Ireland count? 6 5. How do you wk out
More informationDuring the course of this year there may be further updates and changes to this Keycard due to the introduction of criminal contributions.
Advice and assistance and civil legal aid Keycard 2014 About the Keycard This interim Keycard sets out the various eligibility limits, contributions and clawback levels in advice and assistance and civil
More information2013 No. 2356 PUBLIC SERVICE PENSIONS, ENGLAND AND WALES. The Local Government Pension Scheme Regulations 2013
S T A T U T O R Y I N S T R U M E N T S 2013 No. 2356 PUBLIC SERVICE PENSIONS, ENGLAND AND WALES The Local Government Pension Scheme Regulations 2013 Made - - - - 12th September 2013 Laid before Parliament
More informationThe Teachers Superannuation and Disability Benefits Act
TEACHERS SUPERANNUATION 1 The Teachers Superannuation and Disability Benefits Act being Chapter T-9.1 of the Statutes of Saskatchewan, 1994 (effective June 2, 1994) as amended by the Statutes of Saskatchewan,
More informationTax Credits and Reliefs for Over 65 s
Tax Credits and Reliefs for Over 65 s INTRODUCTION This is a guide to the tax credits and reliefs available to people aged 65 or over. After you have read this guide, you may require some of the more detailed
More informationWho is eligible for the State Pension, a contribution based benefit for people of State Pension age
Factsheet 19 April 2015 Inside this factsheet Who is eligible for the, a contribution based benefit for people of age Information about the current ages 65 for men and 62 ½ for women How to claim Information
More information