National Insurance Contributions
| Class 1 (not contracted out) | Employer | Employee | | Lower earnings limit | | £90 | | Payable on weekly earnings | | | | £105.01 - £770 | 12.8% | 11% | | Over £770 | 12.8% | 1% | | Over state retirement age | 12.8% | Nil | | | | | Class 1A (on relevant benefits) | 12.8% | Nil | | | | | Class 1B (on PAYE settlement arrangement) | 12.8% | Nil | | | | | Class 2 (Self employed) | £2.30 per week | | Limit of net earnings for exception | £4,825 per annum | | | | | Class 3 (Voluntary) | £8.10 per week | | | | | Class 4 (* Self employed on profits) | | | £5,435 to £40,040 | 8% | | Excess over £40,040 | 1% | | *Exemption applies if state retirement age was reached by 6 April 2008. |
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Note
For those earning between £90 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 final salary schemes, and employees, a rebate of 1.6% for either scheme.
