3 ms·
When you consider that in the UK NI is 11/12% and that covers the NHS and your state pension plus SERPS (second state pension) and unemployment benefits. I kne
by mjwalshe 15y ago
When you consider that in the UK NI is 11/12% and that covers the NHS and your state pension plus SERPS (second state pension) and unemployment benefits.
I knew a guy who emigrated to the USA and was working for CITI and was paying a bigger % of his pay just for his health cover.
- ig1 15y agoThe NHS is incredibly efficient in terms of ROI, the cost per person of the NHS is less than the cost of overhead admin work for healthcare in the US.
- timthorn 15y agoNI isn't hypothecated - the money the government collects through NI is thrown into the pot with almost all other taxes. NHS & pension payments come out of general taxation.
- smiler 15y agoYou do know employer and employee both pay NI, so total NI is around 24%
- rossriley 15y agoThe employer contribution is only around 1%.
- smiler 15y agoWhere on earth do you get this idea? Please see this link http://www.hmrc.gov.uk/paye/rates-thresholds.htm http://www.hmrc.gov.uk/paye/rates-thresholds.htm It is 13.8% for employers!
- mjwalshe 15y agoso its not coming out of my pay and companies don't have the expense of running their own health systems and they dont need to employ extra HR people to administer them. It also means that startups don't have to compete against big companies that can afford health benefits which act to lock employees into big companies