The State Pension


How much is NI in total and how much is spent on pensions, welfare, and the NHS?
I reckon I'll have paid about £250,000 in NI by the time I retire. But that apparently doesn't entitle me to anything. The Tories plan was basically to run down the health service and benefits systems so the poor die earlier and never have to claim their pension. Labour are ruining that by investing in the NHS.
 
I reckon I'll have paid about £250,000 in NI by the time I retire. But that apparently doesn't entitle me to anything. The Tories plan was basically to run down the health service and benefits systems so the poor die earlier and never have to claim their pension. Labour are ruining that by investing in the NHS.
If Juan is correct, I doubt that would even cover your NHS cover.
 
I reckon I'll have paid about £250,000 in NI by the time I retire. But that apparently doesn't entitle me to anything. The Tories plan was basically to run down the health service and benefits systems so the poor die earlier and never have to claim their pension. Labour are ruining that by investing in the NHS.
Don't you get a state pension?
 


You need to bear in mind that this guff about people living longer is the problem, it isn't. The problem is, successive governments changing the laws and rules to access NI contributions and use it as a taxation.
NI was supposed to fund pensions as well as social security and the NHS.
They've used the contributions to cover tax breaks for those that don't need it and offset corporation taxes that aren't being paid at all.
We're one of the lowest pensions in the West and nowhere near a liveable income. So, sod off basically 👍
Even from the early days of the NHS the NI contribution did not cover the costs and that’s why prescription charges were introduced a couple of years post 1948.The gap has just got bigger over nearly 80 years.
NI contributions cover approx 25% of the current NHS annual costs and that equates to about £45bn per annum.

50% of all welfare spending is going on pensions and as more people become eligible there needs to be a debate on how to deal with it and future funding.

One of the debates is to discuss paying NI on all pensions,state or private, as well as merging Income Tax and NI so there is just one tax rate.
 

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