As you may have heard, there are changes happening to National Insurance contributions (NICs).
From 6 July, the new thresholds will come into effect. But what does that mean for you?

Our state pension, benefits, health service and more are all funded by National Insurance contributions (NICs).

These are paid in different ways and at different rates by employers, employees and the self-employed, and they can also be paid voluntarily.

National insurance contributions (NICs) are set aside to pay the state pension and other benefits, but due to the UK’s ageing population the National Insurance Fund is under increasing strain, with the state pension taking up more than 90% of its annual outlay in 2018.

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