You may have noticed in this week's Budget that Class 2 NI contributions are going to be abolished from 2017. This means that self-employed earning below the Small Profits Threshold (£5965 for 2015/16) will no longer be able get contributory benefit contributions towards their state pensions (by paying Class 2 voluntarily). Those earning above the small profits threshold but below the Lower Profits Limit for Class 4 NI contributions will earn what is classed as zero rate band Class4 NI contributions and will qualify for contributions towards the state pension. In order for those caught below the small profits threshold, to accumulate contributions towards the state pension, they will have to purchase Class 3 voluntary NI contributions. Class 3 currently cost £14.10 per week as opposed to £2.80 per week for Class 2 - An increase of over 500%.