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Email: claimtax@claimtax.co.uk

National Insurance Rebate

The average National Insurance Rebate is about £1560, or 5% of annual income, based on an income of £30,000.

What is an NI Rebate?

When people pay their NI contributions every week or month etc, a portion goes towards the NHS and social security etc, and a portion goes to a pension fund set up by the Govt for each individual with a permanent NI number, and the contributions are recorded against that number. This personal fund is the State Second Pension (S2P) and the only way you can benefit from this pension is by residing in the UK at retirement age of 65. If you are elsewhere, you lose out.

However, by claiming an NI Rebate, you can opt out of the government S2P scheme and redirect those contributions to a private pension fund in your own name, which you can choose to access at age 55 (10 years earlier) wherever you live in the world at the time. This will be in your control and name so there is no danger of losing it.

Unlike a Tax Refund, you won’t receive your NI Rebate as a lump sum now, but by taking 3 minutes to follow the link and completing the application, you will ensure that your NI contributions which you otherwise would have lost, will be set aside to grow for the next 30 odd years and accessed by you when you are 55.

The link below will take you to the page that will answer all your questions and claim your rebate.

Why Should I Claim?

There is no cost to you.
It is money you would ordinarily have lost.
You can take 25% as a cash lump sum when you retire.
It is very quick and very easy (takes less than 5 minutes).
You can choose how you would like your funds invested.
You can choose to receive it at age 55 instead of the Govt age of 65.
An NI Rebate can be claimed at anytime and only needs to be claimed once, as it is done automatically each year thereafter.
You remain eligible for the Basic State Pension, it is only the Second State Pension you are opting out of.

Am I Eligible?

You are eligible if you are living in the UK and have a permanent National Insurance number.