USC and PRSI to be integrated?

[Sophrosyne]

That support isn't there so I come to the above conclusion.

I don't know why you are making that assumption.

People are generally sensible enough not to run with everything suggested on AAM, but that does not mean that they are not in favour of reform.

 

[ashambles]

It looks like the government takes in around 8.5B in PRSI, and according to whereyourmoneygoes.gov.ie for 2017 at least pays 4.84B COAP + 1.44B widowers and 343m in jobseekers.

So 8.5B in and 6.6B out.

Is there some other big PRSI expense that I've embarrassingly forgotten about?
If not where's the other 2B going? It looks like they should be able to build up a substantial PRSI fund for the future even without the 4B from USC.

 

[Protocol]

Just look up the accounts of the SIF.

http://www.welfare.ie/en/Pages/Social-Insurance-Fund.aspx

http://www.welfare.ie/en/downloads/sif2015.pdf

 

[Protocol]

2015 data

Pensions = 5.9 bn

Working-age income supports = 800m

Illness, disability, carers = 1.4bn

 

[Protocol]

If not where's the other 2B going? It looks like they should be able to build up a substantial PRSI fund for the future even without the 4B from USC.

No.

2014 and 2015 had deficits in the SIF.

 

[TheBigShort]

The Australian pension model may be something along BB thinking?

http://www.pensionfundsonline.co.uk/content/country-profiles/australia/80

There is a non-contributory state pension but also a compulsory occupational pension contribution. When I worked there the rate was 8% of salary. I can't recall if it was employer or employee contribution, or a combination of both.
But I would be generally supportive of such a scheme.

 

[Sophrosyne]

The Social Insurance Fund had a surplus of €377m in 2016, the first time it has had a surplus in 10 years.

Minister Varadkar said he intends to keep the Fund in surplus in the years ahead, while extending the range of benefits available to PRSI contributors.