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Tax Refund - NI Refunds - State Pensions

Home > Tax Refund > NI Refunds > Class 1 and State Pension Scheme

Class 1 National Insurance
& The State Pension Scheme

To find out more about tax relief on Class 1 National Insurance and the State Pension Scheme please follow the links below:

* Overpaying Class 1 National Insurance when working and over State Pension age

*Class 1 National Insurance Refund more than one job

*How do I claim a Class 1 National Insurance Refund?

*Opting out of the State Pension Scheme

Overpaying Class 1 National Insurance when working and over State Pension age

If you are working but you are over state pension age, you may be overpaying Class 1 National Insurance. It is possible that if your employer was deducting Class 1 National Insurance, after reaching State Pension age you could be entitled to a National Insurance refund.

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Class 1 National Insurance Refund more than one job

If in the 2012/2013 tax year if you had more than one job and you earned over £817 per week, it is worth double checking if you have overpaid Class 1 National Insurance. Due to earning over a certain limit it is possible that if you had more than one job you can overpay Class 1 National Insurance.

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How do I claim a Class 1 National Insurance Refund?

To confirm if you are due to claim a Class 1 National Insurance refund you should contact HMRC directly which will allow for any National Insurance refund to be highlighted and repaid.

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Opting out of the State Pension Scheme

It is possible to have a portion of your annual National Insurance contributions allocated to your own stakeholder pension in the UK. You have a choice to opt out of the state pension scheme and to have the national insurance contributions sent to your own personal stakeholder pension fund. To be eligible you have to be employed and have a permanent national insurance number. The NI refund can be made at anytime and the process only needs to be done once to take effect for all future years.

It is important to consider the affects of opting out of the state pension scheme and talking to a financial adviser would be helpful to make sure that you are making the right decision in your circumstances.

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