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Where Taxpayers and Advisers Meet

Voluntary Class 2 NIC's

Tom2247
Posts:3
Joined:Wed Dec 15, 2021 11:09 pm
Voluntary Class 2 NIC's

Postby Tom2247 » Thu Dec 16, 2021 7:37 pm

My profit was lower than the £6475 limit so Class 2 NIC is voluntary, should I still choose to pay it?

I know there are certain benefits but the main one seems to be self-employed maternity pay and I won't need that, I am a single male in my early 20's and as far as I can tell I need to make contributions for 35 years by the time I retire to get full benefits but as the retirement age will be well into the 60's so I still have time.

Does it make sense to pay it voluntarily?

Thanks

darthblingbling
Posts:496
Joined:Wed Aug 02, 2017 9:09 pm

Re: Voluntary Class 2 NIC's

Postby darthblingbling » Thu Dec 16, 2021 11:41 pm

Sounds like investment advice to me

JOHNRE
Posts:90
Joined:Sat Feb 06, 2016 2:03 pm

Re: Voluntary Class 2 NIC's

Postby JOHNRE » Mon Dec 20, 2021 3:22 pm

Who knows how many NI years you will need in 10, 20 or 30 years time to get a full State Pension? Given that it’s only about £160 it would seem to be well worth it….


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