Pensioners to pay National Insurance next year! What it’ll mean for you
The Daily Express says REACHING state pension age usually means the end of needing to pay National Insurance contributions, but a new levy could see pensioners forking out National Insurance contributions well into retirement.
The 1.25 per cent health and social care levy will be temporarily implemented through National Insurance contributions. For those already paying National Insurance, it’ll mean a rise of 1.25 per cent. Employer, employees, self-employed and for the first time, those above state pension age, will be required to pay this additional levy.
It’s widely hoped that reaching retirement will mean time to relax and enjoy financial freedom through the tax advantages provided to the elderly.
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