Good evening
Is there a minimum level of NI contributions a director should be making? For example, a monthly salary of £6.50 gives e'ee and e'er NI of just under £2 - is this sufficient or should a director be contributing more to ensure they receive state pension etc?
Thanks!
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Eh?
On a monthly salary of £6.50, the Ee's and Er's NIC are both nil, nothing, zilch.
A monthly salary of between £473 (the NI Lower Earnings Level for 2013/14) and £641 (the threshold for Er's contributions) will secure a qualifying year for the state pension.