Class Two Contributions are to be paid by all individuals who derive income of more than €910 from an economic activity and who are not employed.
The Social Security Act defines two categories of persons that are required to pay Class 2 Contributions as follows:
Self Occupied Persons - persons who earn income from Trade, Business, Profession, Vocation or any other economic activity that exceeds €910 per annum.
Self Employed Persons - persons who receive income from rents, investments, capital gains or any other income.
Rates for Class Two Social Security Contributions are based on the annual net profit or income for the year preceding the contribution payment year.
2024
Annual Net Income € Applies To |
|
Category |
From |
To |
Weekly Rate |
Full Time Farmers(2) |
Self Employed |
Self Occupied |
|
SP* |
1,006 |
10,567.92 |
30.48 |
|
|
|
|
*The SP rate applies only to single persons who are not self occupied. |
|
|
|
SA |
910 |
12,028.92 |
34.70(1) |
23.13 |
|
|
|
1 €34.70 or 15% of the annual net earnings if the person is a part-time self-occupied woman or a full-time student who has not reached the age of 24 who is a part-time self-occupied person or a pensioner who is a part-time self-occupied person whose annual whose annual net earnings do not exceed €12,028.92 (see NOTE 1 at the bottom of the page). |
|
|
|
|
Persons born up to 31st December 1961 |
|
SB |
12,028.93 |
22,000 |
15% |
10% |
|
|
|
SC |
22,000.01 |
n/a |
63.46 |
42.31 |
|
|
|
|
|
|
Persons born from 1st January 1962 onwards |
|
SB |
12,028.93 |
27,679.35 |
15% |
10% |
|
|
|
SC |
27,679.36 |
n/a |
79.84 |
53.23 |
|
|
|
|
|
1: If the insured person elects to pay a contribution that is less than €34.70, such contribution may, if the person qualifies for a contributory benefit or a contributory pension, result in the payment of a reduced contributory benefit or contributory pension.
2: This reduced rate is applicable for full-time farmers as identified by the Department of Agriculture. |