1.—(1) This Order may be cited as the Social Security (Reduced Rates of Class 1 Contributions, and Rebates) (Money Purchase Contracted-out Schemes) Order (Northern Ireland) 1998 and shall come into operation on 6th April 1999.
(2) The Interpretation Act (Northern Ireland) 1954(1) shall apply to this Order as it applies to a Measure of the Assembly.
2. For the purposes of section 38A of the Pension Schemes (Northern Ireland) Act 1993(2) (reduced rates of Class 1 contributions, and rebates)—
(a)the appropriate flat-rate percentage in respect of earners for the tax years 1999-2000 to 2001-2002 in the case of a primary Class 1 contribution is 1·6 per cent. and in the case of a secondary Class 1 contribution is 0·6 per cent., and
(b)the appropriate age-related percentages in respect of earners for the tax years 1999-2000 to 2001-2002 are the percentages specified in the table set out in the Schedule by reference to the earners' ages on the last day of the preceding tax year.
3. In the Social Security (Reduced Rates of Class 1 Contributions and Rebates) (Money Purchase Contracted-out Schemes) Order (Northern Ireland) 1996(3)—
(a)in Article 2, for “to 2001-02”, in both places where it occurs, there shall be substituted “and 1998-99”, and
(b)in the Schedule, in the table, the columns relating to the tax years 1999-2000, 2000-2001 and 2001-2002 shall be omitted.
Sealed with the Official Seal of the Department of Health and Social Services for Northern Ireland on
L.S.
John O'Neill
Assistant Secretary
2nd April 1998.