The Social Security (Contributions) (Re–rating and National Insurance Fund Payments) Order 1995

• Citation: S.I. 1995/561
• Sections: 6

Section 1 Citation, commencement and interpretation

(1) This Order may be cited as the Social Security (Contributions) (Re–rating and National Insurance Fund Payments) Order 1995 and shall come into force on 6th April 1995.

(2) In this Order “ the Act ” means the Social Security Contributions and Benefits Act 1992.

Section 2 Weekly earnings figures and appropriate percentage rates for secondary earnings brackets

(1) Section 9 of the Act (calculation of secondary Class 1 contributions) shall be amended in accordance with the provisions of this article.

(2) In subsection (3) (secondary earnings brackets and percentage rates)—

(a) for the figure “£99.99” specified in respect of Bracket 1 there shall be substituted the figure “£104.99” and for the percentage rate figure “3.6 per cent.” there shall be substituted the figure “3 per cent.”;

(b) for the figures “£100.00” and “£144.99” specified in respect of Bracket 2 there shall be substituted respectively the figures “£105.00” and “£149.99” and for the percentage rate figure “5.6 per cent.” there shall be substituted the figure “5 per cent.”;

(c) for the figures “£145.00” and “£199.99” specified in respect of Bracket 3 there shall be substituted respectively the figures “£150.00” and “£204.99” and for the percentage rate figure “7.6 per cent.” there shall be substituted the figure “7 per cent.”;

(d) for the figure “£200.00” specified in respect of Bracket 4 there shall be substituted the figure “£205.00”.

Section 3 Rate of, and small earnings exception from, Class 2 contributions

In section 11 of the Act (Class 2 contributions) —

(a) in subsection (1) (weekly rate) for the figure “£5.65” there shall be substituted the figure “£5.75”;

(b) in subsection (4) (small earnings exception) for the figure “£3,200” there shall be substituted the figure “£3,260”.

Section 4 Amount of Class 3 contributions

In section 13(1) of the Act (amount of Class 3 contributions) for the figure “£5.55” there shall be substituted the figure “£5.65”.

Section 5 Lower and upper limits for Class 4 contributions

In both section 15(3) and section 18(1) of the Act (Class 4 contributions recoverable under the Income Tax Acts and under regulations) —

(a) for the figure “£6,490” (lower limit) on each occasion where it appears there shall be substituted the figure “£6,640”;

(b) for the figure “£22,360” (upper limit) there shall be substituted the figure “£22,880”.

Section 6 Prescribed percentage of estimated benefit expenditure

Section 2(2) of the Social Security Act 1993 shall have effect with respect to the tax year 1995-96 and the prescribed percentage of estimated benefit expenditure for the financial year ending with 31st March in that tax year shall be 10.0 per cent.