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National Insurance Fund

Volume 983: debated on Wednesday 30 April 1980

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asked the Secretary of State for Social Services what has happened to the surplus in the national insurance fund at the end of each financial year since 1969–70.

The surplus at the end of one year becomes part of the opening balances for the following year. The balance in the fund above day-to-day requirements is invested and the interest earned forms part of the income of the fund.