National Insurance Contributions
A payment made by most employers, employees, self-employed (and some unemployed) people to the government to fund such things as national healthcare and education. For the employed it is deducted from income by the employer on a scale related to income levels. The employed pay part flat rate, part income-related. The self-employed and the unemployed may pay a flat-rate voluntary contribution to keep their benefits entitlement up to date.
The total level of savings, defined as the income remaining after consumption, of a country’s households.