National Insurance.. can someone explain please ?

[Jaws]

On the local news tonight..
Suffolk Primary Health Care are shutting no less than SIX hospitals, plus a good selection of day centres and care facilities..

This sort of made something click in my bonce.. all these local authority people who are having to make massive cuts... Are they actually breaching a contract entered into with US when we pay a N I contribution ?

And what the hell happens to the BILLIONS we are all paying in N I !!!???????

Perhaps those holding the purse strings have gone and bought a load of Euro Lotto tickets with our money, hoping to gamble their way out of trouble !

 

[abbeytec]

And another thing!!!

I've often wondered whether it is legal for the government to happily take our N.I. contributions each week or month, while admitting that there will infact, be NO state pension AT ALL by the time I retire. (I'm 34)

Given that a proportion of the N.I. income is used for future pensions, it seems that money is being taken under false pretenses. s04pb0x6


What say you lot?? :dunno:

 

[Centaur]

Wrong assumption Abbeytec

Your NI is going to pay the pensions of those already retired as their contributions did. One generationis going to have to pay both!

 

[Quiney]

:

Given that a proportion of the N.I. income is used for future pensions, it seems that money is being taken under false pretenses. s04pb0x6
:

As far as my knowledge goes (few years since I was in FS) there is no 'pot of money' held for future pensions.
What comes in today goes in pay-outs tomorrow.

Thats why they have to constantly change things. Peeps are living longer and so the out-goings are rising faster than the income. brok3

 

[Cronos]

Don't ever expect what you think pay your taxes for to actually be spent on that! Rule one of public service management is always spend at least your budget or it'll be cut next year. :bang: