Class 1 (not contracted out) | Employer | Employee |
---|---|---|
Payable on weekly earnings of | ||
Up to £107 (lower earnings limit) | Nil | Nil |
£107 – £144 (employers’ earnings threshold) | Nil | Nil |
£144.01 – £146 (employees’ earnings threshold) | 13.8% | Nil |
£146.01 – £770 (upper accrual point) | 13.8% | 12% |
£770.01 – £817 (upper earnings limit) | 13.8% | 12% |
Over £817 | 13.8% | 2% |
Over state retirement age, the employee contribution is generally Nil | ||
Class 1A (on relevant benefits) | 13.8% | Nil |
Class 1B (on PAYE settlement arrangement) | 13.8% | Nil |
Class 2 (Self employed) | £2.65 per week | |
Limit of net earnings for exception | £5,595 per annum | |
Class 3 (Voluntary) | £13.25 per week | |
Class 4* (Self employed on profits) | ||
£7,605 – £42,475 | 9% | |
Excess over £42,475 | 2% | |
*Exemption applies if state retirement age was reached by 6 April 2012. |
Note
For those earning between £107 per week and £770 per week, employers receive a rebate of 3.4% on contracted out salary related schemes, and employees a rebate of 1.4%.