National insurance (NI)

14.07.2013 13:48

National insurance (NI)

1) State scheme whereby in return for compulsory contributions (rate depending on whether employed/self-employed, etc) benefits are paid by the state (unemployment/sickness/pensions, etc).

Employer pays share for employees, self-employed pay their own at a basic rate plus extra based on profits of business.

Source: David Lowe. The Dictionary of Transport and Logistics. Kogan Page, 2002. – P.164 (288 p.)




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