Definition of National insurance:
(in the UK) the system of compulsory payments by employees and employers to provide state assistance for people who are sick, unemployed, or retired.
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.
How to use National insurance in a sentence?
- They, in turn, now receive pensions funded by the National Insurance contributions of their children.
Meaning of National insurance & National insurance Definition