National Insurance
Tax and social benefit system in the UK, introduced in 1911
National Insurance
National Insurance (NI) is a form of tax charged in the United Kingdom on employees, self-employed people and employers. Payment of this tax is usually referred to as a National Insurance Contribution (NIC). National Insurance is the Government of the United Kingdom's second-biggest source of revenue. National Insurance is connected to the welfare state in the United Kingdom, since payment of NI contributions establishes entitlement to certain state benefits for workers and their families. The benefit component includes several contributory benefits, availability and amount of which is determined by the claimant's contribution record and circumstances. Weekly income and some lump-sum benefits are provided for participants upon death, retirement, unemployment, maternity and disability. In order to obtain the benefits which are related to the contributions, a National Insurance number is necessary. Introduced by the National Insurance Act 1911 and expanded by the Attlee ministry in 1948,...
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