Are you aware of the upcoming increases to PRSI contributions?

Class A PRSI, which covers most employed persons, will increase from 4.10% to 4.20% employee rate.

The employer rate will increase from 11.15% to 11.25% and from 8.9% to 9% where weekly income is €496 or less.

Class S PRSI, which covers self-employed people, including certain company directors, will increase from 4.10% to 4.20%.

Over the next four years, Irish businesses will see a significant transformation in payroll regulations, systems, and compliance obligations. From SEPA file updates to pension auto-enrolment and gender pay gap reporting, employers need to act now to prepare for what’s coming.

The IPASS Conference 2024 discussed some significant updates to Ireland's employment landscape, particularly with the introduction of the Auto Enrolment Retirement Savings System set to go live in Q1 2025.