Legally define National Insurance as a Fixed Contract and settle the 1950s Debt.

Legally define National Insurance as a Fixed Contract and settle the 1950s Debt. — 7 signatures. Status: rejected.

Petition background

Legally define NI as a binding contract. Once a worker has 35 qualifying years, or is within 10 years of SPA, their SPA date must be locked. the NIF surplus (£89.6bn now; £100bn+ by 2027) must fund an "equity dividend" for the 1950s cohort, ending the use of the NIF as a Treasury credit facility.

Additional details

The 1950s cohort lost up to £100k due to retrospective changes breaking "Contracted Out" guarantees. By ignoring these debts while presiding over a record surplus, the Government undermines the NI system for all. We propose a "Fixed Contract" model; once contributions are met or a worker is within a decade of retirement, the State cannot move the goalposts. This provides a guaranteed date for young workers and justice for the generation that built the surplus.

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