I work in the health sector. I changed employment in 2000. In my 'old' job I was paying Class D PRSI, but in my 'new' job I was put on Class A along with all employees in that organisation. I have received confirmation from the Dept of Social Protection that I am insurable at Class D.
The HSE issued a circular in May 2013 (HSE HR Circular 012/2013) as they are trying to establish how many employees have been Misclassified. There is a long Protocol regarding how this will be managed.
From a bit of Googling, it seems to me that this issue came to light initially in the teaching sector. Has anyone any experience of how it was handled?
On the one hand, going forward, I'll be paying less PRSI, and more Superannuation - and my take home pay would go up. On the other hand, my HR Dept would expect me to get a PRSI refund, which will more than offset shortfall in Superannuation contributions. However as PRSI can only be refunded for 4 years, can it be enough for 13 years underpayment of Superan? On top of which I have bought back years, and am paying Notional service so I assume that'll all be recalculated too. And what if I exceeded the threshold for tax relief on pension contributions?
I know I'd be better off if I was on D all along, rather than being changed to A - I just hope the re calculations don't cost me dearly.
Any comments or experiences would be welcome!
The HSE issued a circular in May 2013 (HSE HR Circular 012/2013) as they are trying to establish how many employees have been Misclassified. There is a long Protocol regarding how this will be managed.
From a bit of Googling, it seems to me that this issue came to light initially in the teaching sector. Has anyone any experience of how it was handled?
On the one hand, going forward, I'll be paying less PRSI, and more Superannuation - and my take home pay would go up. On the other hand, my HR Dept would expect me to get a PRSI refund, which will more than offset shortfall in Superannuation contributions. However as PRSI can only be refunded for 4 years, can it be enough for 13 years underpayment of Superan? On top of which I have bought back years, and am paying Notional service so I assume that'll all be recalculated too. And what if I exceeded the threshold for tax relief on pension contributions?
I know I'd be better off if I was on D all along, rather than being changed to A - I just hope the re calculations don't cost me dearly.
Any comments or experiences would be welcome!