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Originally Posted by tizmeinnit
No it will not. That money is spent mate gone done and dusted the State pension comes out of the welfare budget.
My view on means testing the State Pension is no personal it is realistic. In an ideal world your NI payments should have been invested your pension secured however all the money has been spent
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Sounds a little unfair - I have paid NI for the last 39 years, the last 20 years at the maximum amount, and I will pay in for the next 10 years (minimum).
During this time, I have also contributed to a number of Pension Schemes (due to moving jobs), and invested in my house by extending/improving it rather than taking holidays some years.
So, over 49 years I will have worked hard, contributed in both NI and tax (which I have no issue with), saved up rather than blown my money on frippery when I couldn't afford it, and it would appear it would be better if I stopped saving/being careful, spend what I have now, and let the State (i.e. those who pay NI and taxes (in one form or another)) take care of me......
btw, NI was never just for pensions, it was also to pay for the day to day running of the NHS.
http://www.bbc.co.uk/newsbeat/10078062
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National Insurance payments were introduced in 1911.
The idea was to provide a government safety-net for workers who fell on hard times.
Employees paid money into the scheme out of their wages.
Anyone needing cash for medical treatment, or because they had lost their job, could claim from the fund.
What it is used for?
The system has changed over the years.
National Insurance is now used to pay for:
The NHS
Unemployment benefit
Sickness and disability allowances
The state pension
NI is supposed to be "ring fenced" - meaning the money raised is only used for these areas and won't be spent on things like building schools or employing police officers.
However, the government can borrow from the National Insurance fund to help pay for other projects.
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