National Insurance Fund

"first and foremost a plan of insurance – of giving in return for contributions benefits up to subsistence levels, as of right and without means test, so that individuals may build freely upon it".

[3] The income of the NIF consist of contributions from employees, employers and the self-employed, plus interest on its investments.

National Insurance contributions also provide a small part of the funding for the public healthcare systems in the UK (including the National Health Service in England), but contributions are paid into the funds net of money allocated to the NHS.

[4] Thus the NIF do not hold money directed for the general provision of health services in the United Kingdom.

[5] This surplus figure was revised due to errors in assumptions by the GAD and was forecast to be just £30 billion by 2016.