The Social Security (Contributions) (Re-rating and National Insurance Funds Payments) Order 2001
National insurance
Benefits
Social fund payments
King's Printer of Acts of Parliament
2014-09-25
SOCIAL SECURITY
This Order reduces the rate of secondary Class 1 contributions, specified in section 9(2) of the Social Security Contributions and Benefits Act 1992 (“the Act”), from 12.2 per cent. to 11.9 per cent. It increases from £3,825 to £3,955 the amount of earnings below which an earner may be excepted from liability for Class 2 contributions, specified in section 11(4) of the Act. It also amends the amount of a Class 3 contribution specified in section 13(1) of the Act from £6.55 to £6.75 (Articles 2 to 4).
The Social Security (Contributions) (Re-rating and National Insurance Funds Payments) Order 2001
Small earnings exception from Class 2 contributions3
In both section 11 of the Act13 and section 11 of the Northern Ireland Act14 (Class 2 contributions) in subsection (4) (small earnings exception) for “£3,825” there shall be substituted “£3,955”.