The Government Actuary’s assessment of whether proposed changes to Social Security will cause a shortfall in the National Insurance fund.
This report from the Government Actuary’s Department (GAD) looks at the possible impact on the National Insurance fund of the government’s:
- draft Social Security Benefits Up-rating Order 2013
- draft Social Security (Contributions) (Re-rating) Order 2013
- changes to the draft Social Security (Contributions) (Limits and Thresholds) (Amendment) Regulations 2013
The report also contains GAD’s estimates for the National Insurance fund of annual receipts from 2013 to 2018.
GAD’s conclusion is that no grant should be needed for the National Insurance fund in 2013 to 2014.