Class 3 NI - when to stop payments

jamesd

BoxerfanUK said:

jamesd said:

Payback time is a bit over seven years so the extra year looks worthwhile.

jamesd do you mean the £2.05 shortfall I will have to my state pension If I stop payments after this tax year?  If so, I'd worked out that it would take me 9.6 years (taking 20% tax into account) before I break even so didn't really think it was worth it for £2.05 per week but I stand to be convinced otherwise lol.

I didn't allow for tax or the triple lock. Nine years is still about half of typical life expectancy and likely to be a good move for most.

badmemory

t0rt0ise said:

Some people vote for the best outcome for all and particularly for those less well off than themselves rather than totally selfishly looking out for themselves!

I agree & always have done.  But for most people the 2 things are the same, there is only a small percentage of the population that this would not be true for.