The UK Chancellor of the Exchequer, Jeremy Hunt, has announced that National Insurance contributions will fall by 2p in the pound. This is in addition to a drop in contributions earlier this year.
You can use our interactive calculator below to find out how much money you will save. The calculation is only for those who are employed as opposed to self-employed, as National Insurance contributions are calculated differently for those who are self-employed, who will also see a 2p fall from 8% to 4%.
Contributions help pay for some state benefits, including retirement pensions. Paying National Insurance can also earn you the right to receive certain benefits such as the state pension.
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