The Government Actuary has published his Quinquennial Review (QR) on the National Insurance Fund (NIF) for Great Britain. This is carried out every 5 years by the Government Actuary’s Department (GAD). It looks at the long-term relationship between benefit payments (mainly state pensions) and contribution income (mainly national insurance contributions) and projects these for each year to 2086. Projected fund balanceThe QR, which provides information to MPs, shows the current balance in the NIF is projected to grow until peaking at a little over £100 billion in 2032. The NIF is then projected …