National Insurance Fund


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National Insurance Fund

A statutory fund financed by contributions from all employers, employees and the self-employed in the UK into the National Insurance Scheme, plus interest. The NIF is used to pay for social security benefits such as state retirement pensions and for the NHS via the Government. The NIF has an annual surplus, which the government borrows through the Debt Management Office but cannot use to finance current expenditure.
References in periodicals archive ?
Altmann's predecessor, Lib Dem Steve Webb, said: "The Government won't let the National Insurance Fund run out of money - they will simply top it up from other taxes as they have done repeatedly in the past.
The cost of these payments is also met from the National Insurance Fund.
There's also a PS28billion surplus in the Government''s National Insurance Fund.
If one chooses to contribute to National Insurance Fund (NOI) then it will be not possible to switch to a private pension fund, while this change is possible if contributions are made to a universal pension fund.
Employees of insolvent companies can make claims against the National Insurance Fund (funded by national insurance contributions) for certain payments due from their employer.
The hotel is owned by the country's National Insurance Fund (NIF).
They were told that they could recover statutory minimum payments for notice, outstanding pay, including holiday and redundancy pay, subject to certain limits, through the National Insurance Fund.
We'd expect that the vast majority of outstanding wages will be paid by the Government as part of the National Insurance Fund, as is normal in these circumstances.
We could also use some of the resources that are in the National Insurance Fund.
This country can afford to pay everyone a decent pension, not least by using the surplus in the National Insurance fund currently estimated at pounds 34.
With nearly pounds 40 billion in the National Insurance fund, it can be afforded.
I got in touch with The National Insurance Fund but I am still waiting for settlement.
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