GAD projections indicate NI conts will be exhausted by 2030s
Trustees Agenda posted on 10 January, 2018
AJ Bell has commented on Government Actuary's Department projections that the National Insurance Fund used to pay out benefits will be exhausted in around 15 years' time, at which point the Treasury will have to step in to ensure people continue to receive their pensions.
Tom Selby, Senior Analyst at AJ Bell, commented "The options open to policymakers to plug the funding gap are not attractive. The Government Actuary reckons a 5% increase in National Insurance Contributions would do the trick - hardly a realistic route for any politician wanting to maintain a grip on power."