We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Pension tax raid being touted again
Comments
-
Daniel54 said:It seems sensible to me that legislation should consider "wriggle room" should the NIF be in substantial surplus as per the GAD and funds might be better directed to the NHS.
0 -
zagfles said:Daniel54 said:It seems sensible to me that legislation should consider "wriggle room" should the NIF be in substantial surplus as per the GAD and funds might be better directed to the NHS.
T1 -
Daniel54 said:zagfles said:Daniel54 said:It seems sensible to me that legislation should consider "wriggle room" should the NIF be in substantial surplus as per the GAD and funds might be better directed to the NHS.
1 -
zagfles said:nigelbb said:jimi_man said:nigelbb said:Mickey666 said:zagfles said:Mickey666 said:How about removing the cap on NI contributions? When most other taxes seem to be progressive, I’ve never quite understood why the NIC rate REDUCES for higher earners?Here is the annual report of the National Insurance Fund https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/839411/Great_Britain_National_Insurance_Fund_Account_-_2018_to_2019.pdf
0 -
nigelbb said:zagfles said:nigelbb said:jimi_man said:nigelbb said:Mickey666 said:zagfles said:Mickey666 said:How about removing the cap on NI contributions? When most other taxes seem to be progressive, I’ve never quite understood why the NIC rate REDUCES for higher earners?Here is the annual report of the National Insurance Fund https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/839411/Great_Britain_National_Insurance_Fund_Account_-_2018_to_2019.pdf
1 -
nigelbb said:zagfles said:nigelbb said:jimi_man said:nigelbb said:Mickey666 said:zagfles said:Mickey666 said:How about removing the cap on NI contributions? When most other taxes seem to be progressive, I’ve never quite understood why the NIC rate REDUCES for higher earners?Here is the annual report of the National Insurance Fund https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/839411/Great_Britain_National_Insurance_Fund_Account_-_2018_to_2019.pdf3
-
bigadaj said:
Faced with a lack of future liquidity ,successive governments have chosen to vary the benefit by increasing state pension age,rather than increasing the rates of national insurance.Just as you say.
I have pointed you towards the legal structure surrounding the payment and disbursement of NICs.These do not allow any Government to treat the NIF as a piggy bank to spend as they choose .Equally,if the NIF falls below mandated levels,Government is obligated to top up the fund from general taxation.0 -
Daniel54 said:bigadaj said:
Faced with a lack of future liquidity ,successive governments have chosen to vary the benefit by increasing state pension age,rather than increasing the rates of national insurance.Just as you say.
I have pointed you towards the legal structure surrounding the payment and disbursement of NICs.These do not allow any Government to treat the NIF as a piggy bank to spend as they choose .Equally,if the NIF falls below mandated levels,Government is obligated to top up the fund from general taxation.
I think....1 -
michaels said:Daniel54 said:bigadaj said:
Faced with a lack of future liquidity ,successive governments have chosen to vary the benefit by increasing state pension age,rather than increasing the rates of national insurance.Just as you say.
I have pointed you towards the legal structure surrounding the payment and disbursement of NICs.These do not allow any Government to treat the NIF as a piggy bank to spend as they choose .Equally,if the NIF falls below mandated levels,Government is obligated to top up the fund from general taxation.
But my point is that NICs,in their payment and disbursement sit in a different legal environment to that of general taxation such as income tax, for example.
To take but one difference, NICs are payable weekly whereas income tax is payable annually.
There are understandable reasons why over the decades Chancellors have shied away from integrating these two different taxes.1
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards