voluntary NI contributions - NI increase anyway?

beatrice

Hello!

I wonder if you could clarify for me if the increase in NI will affect me as well – I pay monthly the voluntary NI payment for the pension. I have been doing so for quite a few years.

 I am not working and I do not claim benefits. I pay approx. £87 per month in NI contributions. I have still 3 years to pay to reach the maximum pension that I will be able to get when I reach the correct age, which is 2032.  I was born in 1965.

£87 per month is quite a lot already and I fear a big increase!  Could you please let me know if the changes in NI contributions will affect me, even though I am not an employer….nor an employee?

Many thanks for any clarification you can provide.

 

molerat

Only employer NI is affected by the government changes. Voluntary NI is increasing in line with annual inflation as usual, class 3 from £17.45 to £17.75 per week and class 2 from £3.45 to £3.50.