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Retirement aged people could be made to pay NI

Thu, 20 Aug 2015

Should people who continue to work past retirement age automatically be exempt from making National Insurance contributions?

That's the question being posed by the Treasury as it looks to tackle the challenges facing the state pension and benefit system.

As it stands workers stop making the payments once they hit the retirement age of 60 for women and 65 for men - this is regardless of whether or not they keep working.

Treasury Minister Eddie Teare says he sees no reason why these people should effectively receive a pay rise.

Ending the age exemption was first suggested in the Ci65 report, which looked into how government should best tackle a dwindling pension pot.

The proposals have gone out to public consultation - you can download the document from the gov.im website.
 

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