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HMRC internal manual

National Insurance Manual

Earnings of employees and office holders: retirement benefits schemes from 6th April 2006 - employer-financed retirement benefits schemes: employer's payments into such schemes

Paragraph 8(a) of Part 6 of Schedule 3 to the Social Security (Contributions)Regulations 2001 (as inserted by regulation 8(7) of the Social Security (Contributions)(Amendment No. 2) Regulations 2006)

An employer’s payment into an employer-financed retirement benefits scheme(“EFRBS”; NIM02756) is disregarded in the calculationof earnings for Class 1 NICs purposes.

For details of:

  • the Class 1A NICs position, see NIM14510
  • the Class 1 NICs position on an employer’s payment into a funded unapproved retirement benefits scheme (“FURBS”) before 6th April 2006, see NIM02157 - NIM02160
  • the income tax position on an employer’s payment into an unapproved retirement benefits scheme (up to and including 5th April 2006) and an EFRBS (from 6th April 2006), see EIM15040.