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Social Welfare and Pensions Bill 2013: Change in liability for PRSI

Vote from 25/10/2013

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From 1 January 2014, the exemption from PRSI applying to employed contributors and occupational pensioners under 66 years, whose only additional income is unearned income, will be abolished.

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Background information

From 1 January 2014, the exemption from PRSI applying to employed contributors and occupational pensioners under 66 years, whose only additional income is unearned income, will be abolished. This means that unearned income such as rental income, investment income, dividends and interest on deposits and savings will be liable to PRSI at 4% for the above people provided the person is a ‘chargeable person’ in accordance with the Revenue definition.

This will apply to people with unearned income in excess of €3,174. It will not apply to PAYE taxpayers with no other income, or additional income less than €3,174. In addition, people who have reached State pension age of 66 are not liable to pay PRSI, and therefore will not be affected.

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