Over state retirement age, the employee contribution is generally Nil
Class 1A (on relevant benefits)
Class 1B (on PAYE settlement arrangement)
Class 2 (Self employed)
£2.50 per week
Limit of net earnings for exception
£5,315 per annum
Class 3 (Voluntary)
£12.60 per week
Class 4* (Self employed on profits)
£7,225 - £42,475
Excess over £42,475
*Exemption applies if state retirement age was reached by 6 April 2011.
For those earning between £102 per week and £770 per week, employers receive a rebate of 1.4% on contracted out money purchase schemes or 3.7% on contracted out salary related schemes, and employees a rebate of 1.6% for either scheme.
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Based in Stockport, near Manchester, we represent the friendly face of tax. Over the last 20 years, we have grown to become one of the UK`s leading independent tax and accountancy specialists.
Address: Mellor House, 65-81 St Petersgate, Stockport, SK1 1DS.