national insurance
Definition
Government operated social security scheme that provides income loss, maternity, and sickness benefits, and retirement pension, to the working population. National insurance is funded by regular contributions (based on wage or salary level) by both employees and employers, and by government through taxation.
national insurance is in the General, Marine, & Life Insurance subject.
national insurance appears in the definitions of the following terms: direct tax, payroll deduction and pay as you earn (PAYE)
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