keep The Social Security (Contributions) (Rates, Limits and Thresholds Amendments, National Insurance Funds Payments and Extension of Veteran’s Relief) Regulations 2026
Updates National Insurance contribution rates, thresholds, and limits for 2026-27, including: Class 2 lower earnings limit increase (£6,845→£7,105), Class 2 weekly rate (£3.50→£3.65), Class 3 weekly rate (£17.75→£18.40), earnings threshold (£125→£129), extends zero-rate veteran relief through 2027-28, and sets 5% payment rate into National Insurance Fund.
While any tax increase is unwelcome, these are routine inflationary adjustments to an existing entitlement system. Deleting would create legal uncertainty and disrupt the contract between contributors and beneficiaries. The veteran relief extension, though a targeted benefit, is modest in scope. This instrument maintains stability rather than creating new distortions.