The state pension system is on the verge of a funding crisis. The National Insurance Fund has been draining rapidly since the financial recession – shrinking from £53 billion in 2008-09 to £29.1 billion in 2012-13. The Government Actuary’s Department (GAD) recently forecast that the National Insurance Fund (the Fund) will be exhausted by 2035-36, but could run out much sooner. In NICs: The End Should Be Nigh, author Michael Johnson reveals that Fund exhaustion could occur as soon as next year. bit.ly/ZybO0g
Posted on: Fri, 17 Oct 2014 13:00:59 +0000
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