(1) Subject to section 38BA, a voluntary contribution, in the case of a person who becomes a voluntary contributor by virtue of section 24 (1) (b), shall be at the rate of €650 in a contribution year payable at the time or times and in the manner that the Minister may prescribe.

(2) Subject to subsection (3), voluntary contributions paid by a person under subsection (1) shall be disregarded for all benefit other than State pension (contributory), bereaved partner's (contributory) pension and guardian’s payment (contributory).

(3) Self-employment contributions paid by a person who, being a voluntary contributor becomes a self-employed contributor on or after 6 April 1988, and any subsequent voluntary contributions paid by those persons, shall also be reckonable for State pension (transition) and bereavement grant in the case of a person whose rate of voluntary contribution, immediately before ceasing to be a voluntary contributor, was determined under section 25 (1) (b) (ii).