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Ireland introduces new minimum wage rate

Xinhua, December 31, 2015 Adjust font size:

The Irish government announced on Thursday that minimum wage in the country would go up 0.50 cents to 9.15 euros (9.95 U.S. dollars) at the start of the new year.

As from Friday, some 124,000 workers in Ireland will benefit from the increase, it said.

In tandem with the pay increases, employer Pay Related Social Insurance (PRSI) thresholds are being adjusted from Jan. 1, 2016 to ensure that an increased PRSI burden does not fall on minimum wage employers, according to the Irish government.

In Ireland, PRSI is payable by employers, employees and self-employed people on earnings. In general, everyone between 16 and 66 years of age, who is in insurable employment, must pay PRSI.

The Irish government said the increase meant the minimum wage had been increased by nearly 20 percent during the lifetime of the current government. Endit