I am currently paying Class B PRSI for past 36 yrs, can I take on a small 2nd job of say 15 hours/week & pay a Class A PRSI stamp on the 2nd job at the same time to accumulate tax credits towards a percentage of the State Pension when I reach 66years of age. I have approx 5 years of Class A stamps accumulated prior to moving to the Class B PRSI years ago.
employees in industrial, commercial, and service-type employment, who are employed under a contract of service with reckonable pay of less than €38 from all employments
some employees are insurable at Class J regardless of how much they earn, such as employees born before 1 January 1958, or over pensionable age (66 years) and in receipt of State Pension (Contributory), or over aged 70 years
people insured for Occupational Injuries Benefits only
people taking part in certain Solas training schemes insurable for Occupational Injuries Benefits only
people whose employment is of a subsidiary nature or of inconsiderable extent for example, people insurable at Class B, C, D or H in their main employment and who have a second job
attendants at Department of Education and Skills examinations.
This Key Post is in the form of a FAQ where I don't know many of the answers. I will update the post as I get answers. 1. PRSI payable on reaching state pension age Answer: 0 (Class M) 1a. Does this relate to the start of the tax year in which you become 66? Or to after your birthday? Answer...
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You cannot get reckonable Prsi contributions until after you cease your class B employment.
You can gain extra Prsi up to age 70 if you are unable to claim any COAP at age 66.
If you reach 260 Reckonable paid contributions (class A or class S) you will qualify for a pro rata pension.
If you make AVCs, and set up an ARF when you cease class B employment, you can gain extra reckonable class S contributions without the need to continue in employment.