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ARTICLE · 04 OCTOBER 2024

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New Pay-Related Unemployment Benefit Introduced

Parliament has approved legislation to change the formula and some parameters for the existing Jobseeker's Benefit, resulting in a higher benefit for most individuals, and to implement a slight increase in employer...

IrelandEmployment and HR

Higher unemployment benefits linked to pay will bring workers closer to prior earnings, with a slight increase in employer and employee social security contributions.

Employer Action Code: Monitor

Parliament has approved legislation to change the formula and some parameters for the existing Jobseeker's Benefit, resulting in a higher benefit for most individuals, and to implement a slight increase in employer and employee social security contributions. Social security, referred to as Pay-Related Social Insurance (PRSI), covers all workers between the ages of 16 and 70 and is funded by employer and employee pay-related contributions.

Key details

  • For claimants with at least five years of PRSI contributions, the Jobseeker's Benefit amount will equal 60% of prior earnings (subject to a maximum benefit of 450 euros per week) for the first three months; 55% of prior earnings (up to €375 per week) for the next three months and 50% of prior earnings (up to €300 per

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