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15 Sep 2011
AROUND £500m would be raised in 2011/12 if pensioners were required to pay National Insurance contributions, the government has said.
In a parliamentary answer on 9 September, Financial secretary to the Treasury Mark Hoban (pictured) revealed the £500m figure, which was based on the 2007-08 Survey of Personal Incomes and economic assumptions made by the Office for Budget Responsibility. It also takes into account behavioural changes, Hoban said.
The question, asked by Conservative MP Penny Mordaunt, was in response to the Dilnot Report, which looked at how to fund care for elderly people. The Age UK charity suggested asking pensioners to pay NI.
A spokesman for Mordaunt said: "Charging OAPs NIC has been mooted as a means of funding care, and in the context of the Dilnot Report it is interesting to know the sums that could be raised through such a measure."
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NI for Pensioners
I'd let the Banks finance this one: out of their bonuses; NOT the pensioners
Posted by: Stewart, 16 Sep 2011 | 13:45
Already squeeded and now to an early death by poverty
Another daft move on the poorer members of society who have no means of increasing theri income at a time of increased inflation. Get a grip government on reality and understand even dried up lemons loose their taste. The grey vote can be destructive so watch out.
Posted by: RH, 19 Sep 2011 | 09:34
NI on Pensions
We are constantly told to save for our retirement and being an employee working for an SME this is a major task.
I have no guarantee of my final pension as it will be based on the market value of my investments over the next 22 years. If I save hard I may have a pension of around £20,000 a year, a high earner !
In the alternative my brother and sister who are both teachers know that not only are their jobs virtually 100% safe they also know exactly what thier pensions will be come retirement - and that thier pensions will also be gaunteed by the tax payer.
I am not a banker but on behalf of the many many low paid employees of banks why are we constantly targeting them ?
I won't go into the savings I am told can be made by the NHS for giving free health care to illegal imigrants, healthcare tourists etc.
Instead if you want to get extra money to pay for healthcare.
1) reduce the contributions made to governemnt workers pension schemes so that they have the same contributions and risks as the real world.
2) Place a 100% royalty tax on all ex government workers who publish books, go on speaking tours etc. where they talk about thier time in office.
3) Bring MPs pensions into line with those of thier constituents.
4) REDUCE the tax burden on our Entrepreneurs. They are the ones who work long hours and risk everything to create the jobs for the rest of us.
Lets see after the above what the shortfalls are.
Posted by: ashley smith, 23 Sep 2011 | 17:19