In Britain, national insurance is the state system of paying money to people who are ill, unemployed, or retired. It is financed by money that the government collects from people who work, or from their employers.
[business]
national insurance in British English
noun
(in Britain) state insurance based on weekly contributions from employees and employers and providing payments to unemployed, sick, and retired people, as well as medical services
See also social security
Examples of 'national insurance' in a sentence
national insurance
If the aim of such measures is to encourage more recruitment, cutting employers' national insurance contributions would work better than cutting corporation tax.
Times, Sunday Times (2016)
They also usually pay national insurance contributions on work in Britain for a British employer.