PRSI credits are crucial if you want social welfare benefits

Understanding how PRSI impacts you and your family is all too often neglected.

For most of us, PRSI is seen as simply an additional tax, without actually understanding what benefits if any can come from paying into this “Social Insurance”.

For self-employed persons, including farmers, sole traders and company directors, PRSI is normally paid at 4% of profit or wages, under “Class S” PRSI.