The Social Security (Contributions) (Re-rating and National Insurance Funds Payments) Order 2002
National insurance
Benefits
Social fund payments
King's Printer of Acts of Parliament
2014-10-07
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 11.9 per cent to 11.8 per cent. It increases from £3,955 to £4,025 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 £6.75 to £6.85 (Articles 2 to 4).
The Social Security (Contributions) (Re-rating and National Insurance Funds Payments) Order 2002
Amount of a Class 3 contribution4
In both section 13(1) of the Act15 and section 13(1) of the Northern Ireland Act16 (amount of a Class 3 contribution) for “£6.75” substitute “£6.85”.