(C): Twitter
There is a growing UK Parliamentary petition asking the government to abolish National Insurance (NI) contributions for workers born in 1965 or before which will include workers aged 60 or over and the policy could fundamentally change payslips for millions of older workers still in work, if it is passed.
The petition, started by Mike Haynes, asks the government to cut or exempt over-60s from NI contributions as a way to alleviate some financial pressure for older workers. “We are asking for this because many over-60s are struggling to survive due to what we believe has been incompetent spending by the government for the last 30 years.” says the petition.
The Labour led Government must respond when there are 10,000 signatures. If there are 100,000 signatures, the petition will be eligible to be debated in Parliament. The petition closes for signatures on 30 September 2025.
At present, all workers in the UK, employees or self-employed, must make NI contributions which help fund state benefits such as the State Pension. Employees pay Class 1 NI, whereas the self-employed pay Class 2 or Class 4 NI, depending on their individual level of profits.
Abolishing NI for older workers will increase people’s take home pay and may even encourage more people to work on into their retirement years, beyond age 60. However, this proposal will have a wider impact on the National Insurance Fund which pays for state pensions and benefits.
Absolutely. Workers will be able to go to the official HMRC portal and check their NI contributions, if there are gaps and whether to make voluntary contributions. This can also have an impact on State Pension forecasts and eligibility.
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