THOUSANDS of people could be set to receive a €1,800 social welfare payments into their accounts sooner than expected.
The Pay-Related Job Seeker’s Benefit will be implemented from March 31, 2025.
The payment will be available for people who become fully unemployed on or after the March 31, 2025 and have enough pay-related social insurance (PRSI) contributions.
There will be three different rates available.
A maximum of €450, or 60 per cent of your prior income will be available for people who have made at least five years PRSI contributions.
The €450 rate will be paid for the first three months.
A second rate of a maximum of €375, or 55 per cent of your prior income will be paid for the following three months.
And a third rate of a maximum of €300, or 50 per cent of your prior income will be paid out for the final three months.
The minimum payment rate available €125.
There are a number of conditions applicants will be required to meet to qualify for the payment.
First, you must have paid at least 104 PRSI insurable employment contributions at Class A, H or P.
The second condition is that you have paid at least 4 PRSI insurable employment contributions at Class A or H in the 10 weeks before applying.
And the third condition is that you must have paid at least 26 PRSI insurable employment contributions at Class A or H in the 52 weeks before your first day of unemployment.
Government guidelines states you “must have at least 104 employment contributions in the period since entering insurance, at least four employment contributions in the 10 weeks immediately prior to the date the application for benefit is made and at least 26 employment contributions in the 52 weeks immediately prior to the first week for which they are claiming benefit”.
PREVENTING A ‘CLIFF-EDGE DROP’
Announcing the new payment last year former Minister for Social Protection Heather Humphreys said it will prevent a “cliff-edge drop” for those with a strong work history who become unemployed.
She said: “I’m delighted to sign the order which means that Pay-Related Benefit will come into effect on March 31 2025.
“Under these landmark reforms, people who have a long work history and who have contributed to the system via their PRSI will receive enhance benefits if they find themselves in that awful situation of losing their job.
“We have seen situations in the past where companies can close and workers face a sudden and large drop in their income.
“Pay-Related Benefit is all about providing workers with a greater safety net and cushioning them from a sudden cliff-edge drop in income.”
FEBRUARY MONEY CHANGES
Social Welfare date change:
Due to the St Brigid’s Day Bank Holiday weekend, bank and post offices will be closed on Monday, February 3. This means that all social welfare payments are due to be paid on Monday was sent on Friday and Saturday before the closure.
Energy credits:
Announced in the Budget 2025, all domestic electricity customers would receive second instalment of €250 in credit towards their bills this month.
Revolut:
The banking company has announced that it will allow credit card customers to pay off their balance in instalments, meaning they can opt for repayments over three, six, nine and 12 months at a lower rate than their standard annual percentage rate.
Diageo:
The company has announced that the price of Guinness, Harp, Smithwicks and Hophouse 13 will increase from February 3 – the price of a pint is expected to increase to over €6 across the country
The existing Jobseeker’s Benefit will remain in place for people not eligible for Pay-Related Benefit “because they are working on a part-time, casual, short-time or seasonal basis”.
The new benefit won’t be backdated and will only be available to people made unemployed after March 31 next year.
Department chiefs said: “If you are unemployed you can apply for the existing Jobseeker’s Benefit scheme.
“If you are already getting Jobseeker’s Benefit when the new Jobseeker’s Pay-Related Benefit starts, you will stay on that payment until your entitlement expires or until you return to employment.”
Thousands will benefit from the new payment[/caption]
