Crosswords8 mins ago
National Insurance on Private Pensions
2 Answers
I retired early (under 65) and have a private pension paid to me each month.
I also have a part time job. I pay normal NI contributions on my salary but must I pay NI contributions on my pension income?
Thanks
I also have a part time job. I pay normal NI contributions on my salary but must I pay NI contributions on my pension income?
Thanks
Answers
Best Answer
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For more on marking an answer as the "Best Answer", please visit our FAQ.No. Pension income is not subject to NI, but it is subject to tax.
Pity you can't get your part-time job income below the threshold (of about �100 per week). Then you wouldn't pay NI on that. It's providing you no benefit because men over 60 who don't work get their NI credited against the number of Qualifying Years required for a full Basic State Pension. So it isn't gaining you anything.
Pity you can't get your part-time job income below the threshold (of about �100 per week). Then you wouldn't pay NI on that. It's providing you no benefit because men over 60 who don't work get their NI credited against the number of Qualifying Years required for a full Basic State Pension. So it isn't gaining you anything.