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National Insurance Policy News National Insurance is a system of contributions paid by staff members and companies. It creates an important part of the well-being state, allowing employees to gain access to specific State benefits.Paying class 1 and class 2 NI contributions entitles individuals to specific state benefits, including the State Pension. Figure out more regarding NI below.1. The 1.25% surge in National Insurance contributions will be reversed The 1.25% surge in National Insurance contributions that was introduced in April will be reversed from 6 November, as part of the federal government's pro-growth program. This will help to minimize the cost of living crisis and deal with the NHS backlog. The Treasury estimates that the adjustment will see almost 28 million individuals maintain an extra PS330 a year, while 920,000 organizations will minimize ordinary PS10,000 as they no more need to pay a higher price of company NI.Chancellor Kwasi Kwarteng made the statement in