We're going to be hit with five years of PRSI increases.

It will see around 46 euro come out of the average workers pay packet every year.

The Government has signed off on these increases which are to start next year and continue until 2028.

PRSI will rise 0.1 per cent next October and the year after that.

It will then jump by 0.15 per cent in 2026 and 2027 following by  a 0.2 per cent rise in 2028.

It will mean an increase of around 46 euro a year in the average workers salary from next October.

The Government's rationale  for the hikes is to have more money in the pot for a new system for people who become unemployed and to keep the state pension age at 66.

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