Should people who keep working past state pension age start paying National Insurance?
Workers who reach State Pension age (66, rising to 67 by 2028) stop paying employee National Insurance, even if they keep working. Employees stop on the day they reach that age, and the self-employed stop Class 4 from the following 6 April. Income tax still applies to their earnings, and employers still pay 15% NI on earnings above £5,000. NI funds the State Pension and the NHS, and ahead of the next Budget some think tanks have suggested extending NI or income tax changes to older earners.
7 Opinions
Yes they should, it all helps the never ending pension pot, that we all pay for. It matters not that their state pension won't go up, it's contributing to help others, not as fortunate as them. I thought this is why we have welfare, we all pay in, we all get some out. Sad thing is, some elderly call it charity and won't accept help.
Slightly torn on this one. They aren't increasing their pension pot any further and are still contributing taxes to the state. Perhaps it's somewhere between and they would be paying a reduced rate and it might depend on if they have started to claim their pension.
Have they not already earned the right to not pay into the national insurance scheme after working for years and years? I'm all for equality and easing the burden on young people but we also need to give those of pension age a break too... I think they've contributed enough.
Our pensioners have worked and paid their NI all their lives. There was a time retirement was looked forward too, no longer. Pensioners find they have to work to keep up with the cost of living especially with a government who treat them like 3rd class citizens. I doubt there are many, if any, who are working just for something to do. At least give them this, it's not much.
Pension should be treated the same as any other income and be liable for tax and NI no matter what age you are
No, nobody should. If you ever ask yourself why the tax system is so bloody complicated it is so the most sheep do not realize they are fleeced of almost half what they work out. Simple, singular tax should be used.