In 2007, the Social Security Trustees suggested that either the payroll tax could increase to 16.41 percent in 2041 and steadily increased to 17.60 percent in 2081 or a cut in benefits by 25 percent in 2041 and steadily increased to an overall cut of 30 percent in 2081.
effective rate of protection. the real amount of PROTECTION accorded to domestic suppliers of a final product when a TARIFF is applied to a competing imported final product (see IMPORTS), but either no tariff, or a lower rate of tariff, is applied on FACTOR INPUTS that are imported to produce that product.
The price paid for payment protection insurance can vary quite significantly depending on the lender. A survey of forty-eight major lenders by Which? Ltd found the price of PPI was 16-25% of the amount of the debt. PPI premiums may be charged on a monthly basis or the full PPI premium may be added to the loan up-front to cover the cost of the policy.