PART 2SOCIAL SECURITY BENEFITS AND PENSIONS
Increase in rate of graduated retirement benefit12
1
In section 36(1) of the National Insurance Act 196544 (graduated retirement benefit)—
a
the sum of 13.43 pence shall be increased by 3.0 per cent.; and
b
the reference to that sum shall have effect as a reference to 13.83 pence.
2
The sums which are the increases of graduated retirement benefit under Schedule 2 to the Social Security (Graduated Retirement Benefit) (No. 2) Regulations 197845 (increases for deferred retirement) shall be increased by 3.0 per cent.
3
The sums which are lump sums to which surviving spouses or civil partners will become entitled under Schedule 1 to the Social Security (Graduated Retirement Benefit) Regulations 200546 (increases of graduated retirement benefit and lump sums) shall be increased by 3.0 per cent.
4
The sums which are the additions under section 37(1) of the National Insurance Act 1965 (additions for widows and widowers) shall be increased by 3.0 per cent.