Social Security
contribution level
Employers must pay a 6.5% rate on their employees’ earnings up to SEL, and 2.5% between the SEL and UEL in 2024.
Contribution Levels 2024
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Contribution levels from
1 January 2024
Table showing percentage of wage that must be contributed per month up to the Standard Earnings Limit of £5,450.
Who must pay | Percentage of wage to be contributed |
---|---|
Employee | 6.0% January to December 2024 |
Employer | 6.5% up to the SEL |
Employer | 2.5% between the SEL and UEL |
Table showing the Monthly Earnings Limits and maximum Class 2 contribution rate per month.
Monthly Earnings Limit | Amount per month |
---|---|
Upper Earnings Monthly Limit (UEL) | £24,850 |
Standard Earnings Monthly Limit (SEL) | £5,450 |
Lower Earnings Monthly Limit (LEL) | £1,164 |
Maximum rate Class 2 contribution | £1,080 |
Standard Rate | £632.50 |