Independent report

Quinquennial review update, December 2004

Update of the Government Actuary’s Quinquennial Review of the National Insurance Fund as at April 2000

Document

Detail

Under legislation the Government Actuary is required to carry out a review of the finances of the National Insurance Fund of Great Britain every 5 years.This is known as the Quinquennial review (QR) and its main purpose is to estimate the contribution rates required to be paid to the National Insurance Fund in future years in order to meet expenditure on a pay-as-you-go basis.