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Why Don't Democrats And Libs Support A National Voluntary Insurance Instead?

Question by ♥<3ManuelNeuer<3♥ | Posted in Politics

And there'd be ZERO profit in that insurance program. No profit. All money would go toward giving coverage to each other.
There'll be no taxes. You can only use it if you participate and choose to give your money to the guberment. You can also choose not to use it but to pay for it anyways just to help other people. Why don't liberals start something like that?

Wouldn't they have enough intention to accomplish that?
Exactly. You guys have no intention! You're all pretending

Answer: The left will not go for anything that doesn't give them more power. An idea was floated about giving people a 5000.00 tax credit for insurance and that didn't fly with the left leaning congress. The left wants more power and control. They don't give a damn about anybody, they just want us to be automatons.
 
 

I Retired Early At 55 Years Of Age. Do I Have To Pay National Insurance Contributions?

Question by Rick J | Posted in United Kingdom

I have a civil service pension and do not pay national insurance on it. Could this affect my pension entitlement?. Should I pay voluntary contributions or should I register as unemployed to get them paid.

Answer: earlier this year things changed you need to have thirty years paid nation insurance,you can still claim credits you'll need to sign on at the local job centre to do so,if you have any income including investments then this along with any savings or partner earnings will be took into account when working out any payments,if you would like to look for work you can use the services of the job centre or other employment agents,some will help you with bus fares, telephoning, filling out forms,stamps, clothing replacements and advice

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Do I Have To Pay National Insurance On AVCs?

Question by Banker | Posted in United Kingdom

I'm trying to calculate my NI (national insurance) liability. In calculating the UEL (upper earnings limit), do I deduct AVCs (additional voluntary contributions) made from pre-tax income? Thanks.

Answer: Hi. It depends if you are paying the AVCs as part of a Salary Sacrifice Scheme. As you have not mentioned 'Salary Sacrifice' I presume you are not operating it.

Normally you do NOT deduct AVCs before calculating your NIC liability. See HMRC booklet CWG2 'Employer’s Further Guide to PAYE and NICs': http://www.hmrc.gov.uk/guidance/cwg2.pdf (You want page 20).

IF you are paying the AVCs as part of a Salary Sacrifice Scheme, you DO deduct the AVCs before calculating your NIC liability. http://www.hmrc.gov.uk/specialist/salary _sacrifice.htm See 'full guidance'. Also see http://www.towersperrin.com/tp/getwebcac hedoc?webc=REIN/USA/2007/200703/Pers_Sal arysacrifice.pdf

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How Many Years National Insurance Does My Wife Need To Have Paid To Qualify For A Full State Pension?

Question by Stephen S | Posted in United Kingdom

She worked full time for 10 years. She spent 21 years raising 2 children. She now works 1 day a week and pays voluntary contributions as someone told her that was necessary to maximise her entitlement. I have worked in full time employment for 34 years and paid full stamp all that time. Is she paying voluntary payments unnecessarily as she will qualify for a payment as my wife (at age 60) or because I have heard that the rules are likely to change in 2010 anyway. Any assistance would be much appreciated.

Answer: On 25 May 2006,the Government published a White Paper "Security in retirement": towards a new pension system (Cm 6841) The White Paper includes a proposal to reduce the number of years needed to qualify for a full basic State Pension to 30 years for both men and women reaching State Pension age on or after 6 April 2010 ( at the moment women need between 39 years and 44 years and men 44 years). For this to happen, the law needs to be changed.

Following publication of the White Paper,the Government intends to legistate for pension reform as soon as Parliamentary time allowes and will publish any changes.

For more information on the White Paper proposals visit

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National Insurance Contributions If Earning Below Threshold?

Question by tnlawrance | Posted in United Kingdom

I was unemployed until Nov 09. I then started work on a relief basis, and my salary changes each month from between £320 - £490 pcm. My question is, when I was unemployed and claiming job seekers allowance, my NIC's were accredited to my account. At the moment, I'm not paying nic's on my salary. If at the end of the tax year I haven't earned enough to have to pay further nics, is the shortfall automatically accredited to my account? (as when on jsa) or, even if I earn below the threshold, will

Answer: No, the fact that you are employed but earning below the lower threshold will be notified to HMRC and you will be credited with those conts.

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Voluntary National Insurance contributions

by Tax Faculty Team

If you pay more than two years after the end of the relevant tax year, the rate will normally go up.  . However, special terms apply for the 1996/97 to 2001/02 tax years where the time limits for the payment of voluntary Class 3 NICs were extended... If you want to top up a NICs shortfall, you normally have to do this within six years of the end of the tax year for which the contributions are being paid. HMRC has published a reminder that the deadline for topping up a NICs shortfall for the tax years 1996/97 to 2001/02 is fast approaching. If you are entitled to make payment for these years, your payment must be received by 5 April 2010. These Class 3 NICs contributions can be paid at their original rate provided payment is made by 5 April 2010....

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