The National Insurance Scheme has proudly supported your social security needs for 40 years. Times are changing and global prices are increasing. Therefore, we have had to make some fundamental changes to the NIS so we can continue to be your social security provider for generations to come.
The pensionable age will increase from 60 to 65 years over the period 2024 to 2029. Pensioners will continue to be eligible for a pension from age 60.
The contribution rate will increase gradually each year until it reaches 16% in 2031. As always, the contribution will be split between the employee and the employer.
If you have questions about the recent adjustments to our social security benefits, give us a call! Our team is ready to provide you with the information you need to understand and navigate these changes.