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Members of the public can now find their National Insurance rate with our very own calculator as employees, from January 6, will pay just 10%.
Chancellor Jeremy Hunt announced employees will pay just a tenth of their National Insurance contributions in the new Autumn Budget, bringing a drop in payments for those in work.
Dropping from 12% to 10% for those earning between £12,571 and £50,271 per year means savings for those paying out on their National Insurance. For the average full-time salary of £34,963, a saving of £448 per year can be expected.
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Now, our new gadget to tell you how much you can save on your National Insurance number now the new budget has been released.
Changes will also be made to the self-employed who will find themselves making savings of 2% after the National Insurance pay-in was decreased from 12% to 10%.
Chancellor Hunt said he will abolish the "Class 2" National Insurance charge for the self-employed making more than £12,570. An average self-employed person will reportedly make a saving of £192 per year.
Those in "Class 4" for the National Insurance brackets who find themselves paying out 9% on their earnings, will see their percentage drop to 8% due to the upcoming budget.
Members of the public can now use our Budget Calculator below and feast their eyes on their soon to be reduced National Insurance pay outs.
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A dip in National Insurance payments come as Martin Lewis warns of a "crucially important" change for couples living together while unmarried.
The money-saving expert has said there could be "unpleasant" money issues buried deep within unmarried couples and cohabiting without a marriage certificate will "mean nothing" in death, the Daily Star reported.
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