Just moved to ROI with an NI Student Finance Loan

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Ro2023

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Hi all,

I have just moved from Belfast to Dublin. I am working within the same company, however I am now transferred into the Dublin office; meaning as of October 2023 I will be taken off the NI Payroll and put on ROI payroll.

I have registered for Revenue.ie this month and I'm wondering about NI Student Loan repayments. As previously employed in NI the repayment was automatically taken from my income, however from my understanding I now must set up a direct debit to repay? I also must inform SLC that I have moved abroad and of my new job in the south.

One thing I'm stuck on is how much I have to repay. I was on a salary of €30,000 (approx £26-27000) last year and this year I'm on €35,000 (approx £30,000). I have tried using the online calculators and can't figure out what I have to repay monthly. I have read it's 9% but I don't understand, 9% of what.

Last year I was paying monthly:
PAYE - £230
NI - £138.04
Student Loan Plan 1 - £32

Would anyone have a rough estimate on how much I would repay monthly? Or should I update SLC and see what figure they give me?

I have friends that are in Australia and America and aren't paying as they are overseas, even though they are earning over the threshold. Should I do this?

Any advice is appreciated

Thanks for reading.
 
Any use?

Repaying student loans when you move overseas

If you're planning to live overseas or in the Republic of Ireland (ROI) for more than three months, let the Student Loans Company (SLC) know as soon as possible. The amount you earn abroad before you start repaying your Student Loan may not be the same as in the UK.
www.nidirect.gov.uk www.nidirect.gov.uk
 
@Ro2023 I also moved from NI to ROI and can tell you it was much easier having the money deducted at source in NI. I currently send monthly repayments using Flywire as they are a partner of SLC and it is quite convenient. You will have to inform SLC of your change of circumstances and they will send you out a form to complete, followed by a schedule to tell you how much your repayments will be. I don't really know exactly how it is calculated. They will review this with you each year to see if your salary has changed.

If I can give you a piece of advice, I would ask your employer for a pay rise before you move as even if they match your current GBP salary in terms of pure exchange rate conversion, the cost of living in ROI is significantly higher so your NI salary won't be worth as much down here. £30k stretches a lot further up north than the equivalent €35k will in the South. Trust me as I learned this lesson the hard way.
 
PoundMan said:
If I can give you a piece of advice, I would ask your employer for a pay rise before you move as even if they match your current GBP salary in terms of pure exchange rate conversion, the cost of living in ROI is significantly higher so your NI salary won't be worth as much down here. £30k stretches a lot further up north than the equivalent €35k will in the South. Trust me as I learned this lesson the hard way.
Click to expand...
They're already on higher pay here than in NI!
Ro2023 said:
I was on a salary of €30,000 (approx £26-27000) last year and this year I'm on €35,000 (approx £30,000).
Click to expand...
 
So based on the Tax and NI figures you've given it would appear your UK salary was £26370 approx

Your Student Loan earnings threshold will depend on when you took out your loan, but again from the figures you have provided it appears that you have a Plan 1 loan with a repayment threshold of £22015 a year.

So you were paying 9% on the £4355 earnings between £22015 and £26370 = £391.95 a year / £32.66 a month
 
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