NI after age 60 with new retirement ages
STOP requirement to pay National Insurance (12%) on earnings after the ORIGINAL pension age for those baby boomers whose pensionable age has increased by up to 5 years.
The increase in pensionable age has caused major injustices.
(Baby Boom) Women particularly who may now retire up to 5 years later lose approximately £25000 in pension previously promised (and earned!).
National Insurance is not paid after retirement so these people are not only losing £25000 but are also paying National Insurance to cover the pensions of others, many of whom are only slightly older.
The loss is 12% of their earnings over the 5 years + the lost pension.
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