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English definition of “national insurance”

national insurance

noun [U]
 
 
( abbreviation NI) TAX
a system in the UK in which the government collects money from workers and companies so that it can make payments to people who are unemployed, ill, or too old to work: If an employer fails to pay your national insurance contributions you may not be entitled to benefits or a state pension.
(Definition of national insurance from the Cambridge Business English Dictionary © Cambridge University Press)
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