Tag Archives: National Insurance Fund
The National Insurance Fund (pdf) intended to give claimants a sense of dignity and self-respect, in that National Insurance Contributions paid into the National Insurance Fund (Fund) would cover the cost of any benefits received. The National Insurance Contributions (NICs) made into the Fund were not to be means-tested. The intention was to give people an incentive to take extra steps, such as saving, thus providing themselves with more than the minimum benefit entitlement advocated in the Beveridge Social Insurance and Allied Services report (pdf). Read more of this post
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