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The Occupational Pension Schemes (Power to Amend Schemes to Reflect Abolition of Contracting-out) Regulations 2015

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Annual increase in an employer’s national insurance contributions in respect of the relevant members

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5.—(1) For the purposes of paragraph 2(3)(b) of Schedule 14 to the Act, the “annual increase in an employer’s national insurance contributions in respect of the relevant members” means the increase of 3.4% in the annual amount of national insurance contributions payable by the employer in respect of so much of the earnings of relevant members as exceeds the applicable lower earnings limit but not the upper accrual point (or the prescribed equivalents if the earner is paid otherwise than weekly).

(2) The actuary is to calculate the annual increase in the employer’s national insurance contributions in respect of the relevant members–

(a)estimated to be payable over the period of one year beginning with the calculation date;

(b)using the earnings data specified in regulation 7; and

(c)in accordance with the requirements in regulation 8.

(3) In this regulation–

“the 1992 Act” means the Social Security Contributions and Benefits Act 1992(1);

“applicable” in relation to the lower earnings limit, means the limit or limits in force during the one year after the calculation date;

“lower earnings limit” is to be construed in accordance with section 5(2) of the 1992 Act (earnings limits and thresholds for class 1 contributions);

“the prescribed equivalents”–

(a)

in the context of the lower earnings limit, means the equivalent prescribed under section 5(4) of the 1992 Act, and

(b)

in the context of the upper accrual point, means the equivalent prescribed under section 122(6A)(3) of that Act (interpretation); and

“the upper accrual point” has the meaning given by section 122(1)(4) of the 1992 Act.

(2)

Section 5 was substituted by the Welfare Reform and Pensions Act 1999 (c.30), section 73 and Schedule 9 Part 1 paragraph 1.

(3)

Section 122(6A) was inserted by the National Insurance Contributions Act 2008 (c.16), sections 3(1) and (4)(b).

(4)

Definition of “the upper accrual point” in section 122(1) was inserted by the Pensions Act 2007 (c.22), section 12(3)(a) and substituted by the National Insurance Contributions Act 2008 (c.16), sections 3(1) and (4)(a).

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