NI contribution changes Will this include pensioners?

[silverfoxcc]

Just seen on another forum some remoaner going on about hum funding pensions.

He also claims that from next year that NI contributions will be paid by existing pemsioners

Is he correct, i know old BJ comes up with some classics ,but that is surelyt political suicide?

[Register1]

Let me get this right.
When a person reaches State pension age, and continues to work, like many do, they no longer have to pay N.I.
Is the proposal that when reaching State pension age, are the government suggesting still to pay N.I. ?

[bitchstewie]

If they're working.

National Insurance contributions to rise by 1.25% from April 2022 to fund social care costs

MSE Article said:

Certain NIC rates will increase by 1.25 percentage points from April 2022. From 2023, the health and social care levy element will then be separated out and the exact amount employees pay will be visible on their pay slips. It will be paid by all working adults, including workers over the state pension age – unlike other NICs.

[anonymous-user]

I would be asking if the share dividend duty increase will be damaging future pensioners.

[CharlesElliott]

The increase is on NI for tax year 22-23 so won't be paid by pensioners.

After that, it will become a new 'income tax' which will be paid by those currently paying income tax, including some pensioners.

[The Leaper]

gottans said:

I would be asking if the share dividend duty increase will be damaging future pensioners.

I don't know about "damaging future pensioners", whatever that means, but clearly it will "damage" all dividend payments over the annual allowance.

R.

[anonymous-user]

The Leaper said:

gottans said:

I would be asking if the share dividend duty increase will be damaging future pensioners.

I don't know about "damaging future pensioners", whatever that means, but clearly it will "damage" all dividend payments over the annual allowance.

R.

IRCC Gordon Brown went after shareholder dividends and at the time started pulling £5billion a year out of pension funds. This is still happening and uk.gov just upped this by 1.25% making it harder to build a half decent pension pot.

They are hitting current workers in the pay packet plus robbing their pension funds as well.

[silverfoxcc]

Hold on

I get State pension of 9395pa as my wife is not a taxpayer i have added her allowance to mine. However my works pension takes me over the threshold and i pay tax at standard rate on the excess

I no longer have any other income from outside employment, but when i did filling in the tax form really created them problems with 4 other paid employments ( all part time)


Are you saying that effective from tax year 2023-4 onwards my tax bill will go up 1.5% on the excess?

[Jawls]

gottans said:

The Leaper said:

gottans said:

I would be asking if the share dividend duty increase will be damaging future pensioners.

I don't know about "damaging future pensioners", whatever that means, but clearly it will "damage" all dividend payments over the annual allowance.

R.

IRCC Gordon Brown went after shareholder dividends and at the time started pulling £5billion a year out of pension funds. This is still happening and uk.gov just upped this by 1.25% making it harder to build a half decent pension pot.

They are hitting current workers in the pay packet plus robbing their pension funds as well.

I was under the impression that dividends within a pension wrapper weren’t taxed.

[xeny]

silverfoxcc said:

Hold on

Are you saying that effective from tax year 2023-4 onwards my tax bill will go up 1.5% on the excess?

"This will be paid by all working adults, including older workers"

https://www.bbc.co.uk/news/uk-politics-58476632 . Looks like it :-)

[Simpo Two]

The whole idea of the state pension is that the money comes from the generation below paying NI. But now those people whine that it's unfair. Who will pay their pension, if not the generation below?

The amazing thing was Labour voting against a tax rise to fund the NHS, which is exactly what they've been shouting for for decades. Is it perfectly fair? Probably not; show me a tax system that is.

[rigga]

Currently, once you reach State Pension age, you no longer have to make any National Insurance contributions.

That rule will continue to apply to income from the State Pension, and any income from a workplace pension, personal pension or savings.

However, from April 2023 those over 66 who continue working will have to pay the new NI health and social care levy on any income they earn from a job, to help fix the social care crisis.

[Register1]

rigga said:

Currently, once you reach State Pension age, you no longer have to make any National Insurance contributions.

That rule will continue to apply to income from the State Pension, and any income from a workplace pension, personal pension or savings.

However, from April 2023 those over 66 who continue working will have to pay the new NI health and social care levy on any income they earn from a job, to help fix the social care crisis.

I retire June 2023, I will have just gone past state pension age.
So not to bad.

Poor wife, another 29 years of work lie ahead.