Budget 2024

PRSI hikes: Humphreys will publish roadmap for increases later this year

The social protection minister said rates for workers and employers would rise annually over the next five years

Heather Humphreys: The Social Protection minister did not say what impact the 0.1 per cent increase in PRSI would have on the wages of a typical worker

Heather Humphreys, the Minister for Social Protection, has said that she intends to increase PRSI for workers and employers annually for the next five years.

She announced details of the first increase of 0.1 per cent PRSI increase in the budget today. It will be implemented in October next year to pay for the cost of keeping the state pension age at 66.

It means the PRSI for PAYE workers and the self-employed will increase ...