2016 PRSI Classes & Subclasses

2016 KEY CHANGES TO PRSI
Below are the changes announced in the 2016 Budget which affect PRSI for the 2016 tax year;

Employer PRSI

• The Class A threshold for charging the 10.75% rate of employer PRSI will increase from €356 to €376.
• No change in the rates of employer PRSI for other PRSI classes.

Class A Employee PRSI

• The Class A employee PRSI rate of 4% remains unchanged.
• For gross earnings between €352.01 and €424, the amount of the PRSI charge at 4% is reduced by a new tapered weekly PRSI Credit. (Refer to PRSI Credit article for further information)
• The maximum weekly PRSI Credit of €12.00 applies at gross weekly earnings of €352.01.
• For gross weekly earnings over €352.01, the maximum weekly PRSI Credit of €12.00 is reduced by one-sixth of weekly earnings in excess of €352.01.
• There is no PRSI Credit once gross weekly earnings exceed €424.
• To accommodate the new PRSI Credit in Classes A and H, the thresholds for certain Class A and Class H subclasses are altered.

2016 PRSI RATES AND THRESHOLDS BY CLASS


Excerpt taken from the Department of Social Protection issued publication SW14