The PRSI reforms announced by Minister for Social Protection Leo Varadkar, will benefit small business in Clare, is has been stated.
“Small businesses and the self employed sector are the back bone of our economy and are particularly essential in the future economic stability of rural Ireland, accordinig to Minister for Employment and Small Business Pat Breen.
“These tax equalisation measures will ensure that 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,” added the Care deputy.
“This Government continues to support growing small businesses and promoting job creation, at a time when we see a 12.7 per cent decline in the live register figures here in Clare since this time last year.
“The Fine Gael TD said 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.
“From next month the self-employed will also have access to the treatment benefit scheme which includes free eye and dental examinations, and contributions towards the cost of hearings aids. Treatment benefit entitlements will also be extended from October 2017 to provide further dental and optical benefits both for employees and the self-employed.
“Even more significantly, self-employed contributors will be eligible for the Invalidity Pension from December 2017. 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.”