National Insurance Contributions
Class 1 (not contracted out) |
Employer |
Employee |
Lower earnings limit |
|
£87 |
Payable on weekly earnings |
|
|
£100.01 - £670 |
12.8% |
11% |
Over £670 |
12.8% |
1% |
Over state retirement age |
as above |
Nil |
|
|
Class 1A (on relevant benefits) |
12.8% |
Nil |
|
|
Class 1B (on PAYE settlement arrangement) |
12.8% |
|
|
|
Class 2 (Self employed) |
£2.20 per week |
Limit of net earnings for exception |
£4,635 per annum |
|
|
Class 3 (Voluntary) |
£7.80 per week |
|
|
Class 4 (* Self employed on profits) |
|
£5,225 to £34,840 |
8% |
Excess over £34,840 |
1% |
*Exemption applies if state retirement age was reached by 6 April 2007. |
|
Note
For those earning between £87 per week and £670
per week, employers receive a rebate of
1.4% on contracted out money purchase schemes or 3.7% on contracted
out final salary schemes, and employees, a rebate of 1.6% for either scheme.