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Glossary   >   N   >   "National Insurance" Definition            National Insurance A form of taxation which you pay as you earn, used to fund certain state benefits. A form of taxation, payable by employees, employers and the self employed, which is notionally to fund state benefits including pensions, sickness, unemployment and maternity. It is part of the state"s social security system and ultimately controlled by the Department of Social Security. Glossary    Dictionary Search (powered by Google) WWW ITLOCUS.COM GLOSSARY.ITLOCUS.COM Translate a web page (powered by Google)      to German Spanish French Italian Portuguese Japanese Korean Chinese

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National Insurance - A form of taxation which you pay as you earn, used to fund certain state benefits.

A form of taxation, payable by employees, employers and the self employed, which is notionally to fund state benefits including pensions, sickness, unemployment and maternity. It is part of the state"s social security system and ultimately controlled by the Department of Social Security.