National Insurance Act
The National Insurance Act is a piece of legislation in the United Kingdom that was first introduced in 1911. Its primary purpose was to provide financial support for workers during times of illness and unemployment. The Act established a system of insurance contributions from both employees and employers, which funded benefits for those in need.
Over the years, the National Insurance Act has evolved, expanding to include pensions and other social security benefits. It plays a crucial role in the UK's welfare system, ensuring that individuals have access to financial assistance during challenging times, thereby promoting social stability and economic security.