National Insurance

I have been given advice today by the NI helpline which I believe is incorrect/confusing. I have some outstanding NI contributions to pay from previous tax years. I asked to pay these right away but was told that I should check my pension forecast. I am 63 yo. I checked and can see that I should receive the maximum pension based on 41 years of contributions. Am I correct that I still need to continue paying NI contributions or can I stop paying now? Also, I was told that I only need to pay the minimum Class 2 contributions and I do not need to pay Class 4 contributions. Is this correct? Surely, if I earn enough 'profits' in any given tax year I would need to pay the basic Class 2 contributions plus and Class 4 contributions the latter being based on those 'profits'? Help!

Hi gatfield1960 Atfield,
If you are self employed and your profit is above the Small Profit Threshold, you will need to pay Class 2 NICs regardless of your pension entitlement.
This liability continues until the week in which you reach State Pension Age.  
If your profits from self employment are above the Class 4 Lower threshold, you will also have to pay Class 4 NICs.
As this is an annual charge, this liability continues until the end of the tax year in which you reach State Pension Age.
With regard to the outstanding NICs you have in previous years – it is difficult for us to comment on these without being able to view your records.
 If these were payable on a voluntary basis (for example your profit from self employment was below the Small Profit Threshold in those years) then it would be correct for our advisor to suggest you check to see if it is beneficial to pay before making payment.
However if you were self employed in these earlier years and profits were above the small profit threshold then payment should be made.
Please accept our apologies for any incorrect advice you have been given by our helpline.
Thank you.