Wow, that’s a huge increase.
Budget 2016: Low paid freelancers are likely to see their National Insurance Contributions (NICs) INCREASE five-fold from Class 2 £2.80 pw to Class 3 £14.10 pw
Women born in the 1950s have been truly gang-banged by George Osborne and his Tory cohort. While the rich saw their income triple since the 2008 crash, women who earn only 80 per cent of their male counterparts, who have had their pension age leap from age 60 to 66 and beyond, now find their lower cost Class 2 National Insurance Contributions (NICs) abolished with the cost jumping five-fold from £2.80 per week to £14.10 in Class 3 if your earnings are below £8K. This means an annual bill soaring from £147 to £733 if you wish to continue making voluntary payments to qualify for the state pension — 35 years of NICs.
So not only have they moved the goalposts and added 6…
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