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Social security

Question

I'm an independent and want to reduce my social security contributions this year because they are based on my income from 2009, and my income has fallen since then. However Partena tells me this is not possible "because it's the law". Can this really be the case? I will end up massively overpaying this year, presumably to get a refund in 2 years time -- I would rather not overpay in the first place. Any advice much appreciated.

Annie

Yes, believe it or not this is the law, social security repayments based on an income of 3 years previous. We found ourselves in the same situation, it is causing us a lot of pain to now try and pay social security based on our income of 3 years ago. I contacted the minister regarding this issue, and she has sucessfully changed the law but it will only come into place starting in 2014 whereby they will base their calculations on the year of earning not 3 years previous. You can try for a 'dispense' of payment, we were unsucessful (own an apartment etc.).

Apr 18, 2012 10:30