PRSI turning 66

[Roro999]

I turn 66 shortly.

Do I continue to pay PRSI on a private pension until I turn 70 ?

 

[ClubMan]

Depends...

Pay Related Social Insurance (PRSI) and Universal Social Charge (USC)

This section explains Pay Related Social Insurance (PRSI) and Universal Social Charge (USC)

www.revenue.ie

From 1 January 2024, ... You will continue to be liable for PRSI until you:

• are awarded the State Pension (Contributory)
• or
• reach age 70.

 

[Roro999]

Thanks. So good news as I commence State Contributory Pension next month. Do I need to inform my pension provider to cease deducting PRSI?

 

[ClubMan]

Do I need to inform my pension provider to cease deducting PRSI?

Not sure and I would have expected the change to be notified to them automatically but there's probably no harm in contacting them just in case?

 

[S class]

The pension provider will probably contact you to check if you are starting your COAP. In my case I was pre contacted by Zurich.

If they don't contact you before the end of this month you should notify them.

 

[cally1990]

Ya notify them to be sure to switch to class J prsi as soon as you start getting the state pension payments

Also ensure welfare notify revenue so your tax allowances are adjusted for the income tax due