Can a retired PAYE worker use class S contributions to qualify for Benefit Payment 65.

[Zeus2020]

Ah thank you so much for you replying and making it so clear

 

[fistophobia]

Anyone find they are missing PRSI stamps for 2024 ?
Each year I have to chase this, and almost fight the DSP section.
104 class-S contributions is what I should have.

 

[S class]

Class S deducted in the PAYE system for 2024 e.g. ARF drawdowns will appear on your record in early 2025.

Class S paid through the self assessment system for 2024 e.g. self employment, rental and investment income will not appear on your record until early 2026.

 

[redstar]

If using ARF drawdowns of e5000 per year to gain 52 Class S 'stamps', can this be done with multiple ARFs where the drawdown from EACH ARF is < 5000, but the total of the drawdowns = 5000?

Would a drawdown of < 5000 on each ARF be too low for paying PRSI ?

 

[ClubMan]

can this be done with multiple ARFs where the drawdown from EACH ARF is < 5000, but the total of the drawdowns = 5000?

I'm fairly sure that this works - i.e. once the cumulative amount taken from an ARF (or vested PRSA) is >= €5K then you get the 52 class S contributions.

 

[S class]

Would a drawdown of < 5000 on each ARF be too low for paying PRSI ?

Prsi is automatically deducted from every drawdown by the ARF provider. It is currently 4.1%. This is deducted no matter how small the ARF drawdowns are.

Provided you have total drawdowns of at least 5k it doesn't matter how many ARFs are included.

The 52 class S should automatically appear on you Prsi record early in the following year. If they don't, you should contact DSP.