News

Friday 16th February 2018

Directors and Company Secretaries jump for joy:- How to get full National Insurance Benefits without paying for National Insurance

If you can average earnings of more that £113*52 £5,876 (the lower earnings limit LEL for 2017/2018) you have the full benefit of Class 1 National Insurance (NI) without paying NI.  Meaning you will have access to the following future benefits:-

  • Basic State Pension*
  • Additional State Pension
  • New State Pension
  • Contribution-based Jobseeker’s Allowance
  • Contribution-based Employment and Support Allowance
  • Maternity Allowance
  • Bereavement Payment
  • Bereavement Allowance
  • Widowed Parent’s Allowance
  • Bereavement Support Payment
*There is a further protection for parents who fall under the LEL who received Child Benefit for a child under 12.  They get a NI credit against their pension record even if they earn below the LEL.  Note it is only for the parent who receives the child benefit payments and this is usually the mother.
 
This is a great planning tip to ensure directors and company secreataries earn above the LEL to preserve future NI benefits.

 

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