Published on February 13th, 2017 | by BoyleToday.com
PRSI reforms are good for business
Senator Frank Feighan has welcomed the new PRSI reforms which will benefit small businesses in Roscommon.
“PRSI changes initiated by my Fine Gael colleague, Minister for Social Protection, Leo Varadkar, have reformed the system, making it easier to take a break from making PRSI contributions, without losing your State pension entitlements.
“This is further evidence of Fine Gael standing up for the self-employed people in the wake of the tax equalisation measures we have introduced. If a self-employed person’s business experiences a bad year or a few bad years and they don’t pay PRSI in those years, they can now protect or improve their right to a contributory State pension, and a pension for their spouse or child’s guardian should they die prematurely.
“Fine Gael is supporting growing small businesses and promoting job creation, at a time when we see a 11% decline in the live register figures here in Roscommon since this time last year.
“The new PRSI measures also benefit people who take early retirement who might otherwise have their State pensions reduced, people who go overseas for a few years and do not pay into an equivalent system, people who retire early due to ill-health, and also parents who decide to stay at home.”
“For the first time, this will give the self-employed access to the safety-net of State income supports if they become permanently incapable of work as a result of an illness or disability without having to go through a means test. This is a real advance in the level of cover available to the self-employed.