THE NATIONAL INSURANCE "SURPLUS" CAN AFFORD TO PAY A DECENT STATE PENSION RE- LINKIED TO NATIONAL AVERAGE WAGES.

53 replies

ivanhoe · 09/02/2011 14:37

The National Insurance (NI) system, provides an efficient way of guaranteeing that both employees and employers
fund the pensions of today's retirees, with an annual cost of delivering the basic State pension to each individual of just £5.40 compared to that of the means-tested
Pension Credit of £53.70 (28).

In addition, the Government Actuary has predicted that the fund will have a N.I. surplus by March 2011 of £40 billion. Therefore the NI system must continue.

OP posts:

expatinscotland · 09/02/2011 14:49

Give it a fucking rest, ivanhoe. NO ONE wants to give you or any other boomer more fucking money for your pension.

If there's a surplus, they should be using that towards the deficit so that the next generation (our children, given this is mumsnet) and future ones aren't still paying for the mistakes of the past.

Or the proposed NI increase should be cancelled to ease the burden on today's working people.
Deal with it.

Get off the net and get a second job to pay for yourself.

LaurieFairyCake · 09/02/2011 14:48

Really? So why do people get to retire early while I will have to wait til I'm dead?

If what you say is true they can blooming well bring down my retirement age to 60 please.

onimolap · 09/02/2011 14:45

National Insurance scheme was established on 5 July 1948 to provide unemployment benefit, sickness benefit, retirement pensions and other benefits where individuals meet the contribution and other qualifying conditions.

Can you confirm the figures you quote cover all those? And a link?

Because if so, it means the effects of the just-starting-to-retire baby-boomers might not be as dire as some have predicted.

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