Autumn Statement commentary on National Insurance changes from Clare Moffat
Clare Moffat, Pensions and Tax Expert, Royal London:
"Ultimately National Insurance is another tax to be paid, so any saving is a good one. While some will benefit from this reduction, we need to remember that leaving Personal Allowances and income tax thresholds frozen means some will end up paying tax when they weren’t before.
"While our research shows that the average household is paying nearly £500 a month more on household bills and food costs this year, a cut of 2% is a drop in the ocean. Any National Insurance reduction will only help those who are working and those under State Pension age."
For further information please contact:
Patricia Corrigan, PR Manager
About Royal London
Royal London is the largest mutual life, pensions and investment company in the UK, and in the top 30 mutuals globally*, with assets under management of £199bn, 8.5 million policies in force and over 5,000 employees. Figures quoted are as at 31 December 2025.
Royal London supports partnerships aligned to its values as a purpose-driven, modern mutual. This includes our work as the only Founding Partner of the first British & Irish Lions Women's Team, where we are investing in women's and girls' rugby across both grassroots and elite levels to support the development of the next generation of players and coaches.
Learn more at royallondon.com.
*Based on total 2022 premium income. ICMIF Global 500, 2024
