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National insurance planning

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National insurance planning


National insurance contributions (NICs) are set aside to pay the state pension and other beneits, but due to the UK’s ageing population the National Insurance Fund is under increasing strain, with the state pension taking up more than 90% of its annual outlay in 2018.

A review by the Government Actuary’s Department (GAD) predicted the fund would be empty by around 2032.

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National insurance planning

December 12, 2018
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