PRSI changes will secure the pension age at 66 going forward - McAuliffe

Published on: 22 November 2023

Fianna Fáil TD for Dublin North West and Party spokesperson on social protection Paul McAuliffe, has said our society is ageing and we have to prepare tangible ways to support this cohort.
Deputy McAuliffe was speaking following a Governemnt plan to incrementally increase PRSI over the next five years to replenish the Social Insurance Fund.
He said, "As a result of the strong management of the economy by this Government, these increases can be gradual & incremental. The tax changes will begin with two 0.1% increases, first next October and then again in 2025. The first 0.1% increase will work out at an extra 90c a week for the average worker, meaning an extra €46.80 a year from next October.
"In return for that, people all across Ireland will be guaranteed a State Pension at 66 worth over €300,000 to them.
"Our PRSI rates still compare favourably with other EU countries such as France (23% and 35%), Germany (19% and 19%) and Belgium (13% and 27%). I am of the view that our graduated system of increases in PRSI is a fair system whereby everyone shares the responsibility - employers, employees and the self-employed alike.  
"Sinn Féin have stated previously that they would place the burden entirely on employers by drastically raising the PRSI ceiling for them. This would have disastrous knock-on effects of gutting jobs and harming the thousands of SMEs that operate in the Irish economy and provide employment in every corner of every constituency who are already grappling with the rising costs and labour shortages."

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