The Social Security (Contributions) (Re-rating) Order 2012

• Citation: S.I. 2012/807
• Sections: 4

Section 1 Citation, commencement and interpretation

(1) This Order may be cited as the Social Security (Contributions) (Re-rating) Order 2012 and shall come into force on 6th April 2012.

(2) In this Order—

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

“the Northern Ireland Act ” means the Social Security Contributions and Benefits (Northern Ireland) Act 1992 .

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

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

(a) in subsection (1) for “£2.50” substitute “£2.65”; and

(b) in subsection (4) (small earnings exception) for “£5,315” substitute “£5,595”.

Section 3 Amount of class 3 contributions

In section 13(1) of the Act and the Northern Ireland Act (amount of Class 3 contributions) for “£12.60” substitute “£13.25”.

Section 4 Lower limit for Class 4 contributions

In sections 15(3) and 18(1) and (1A) of the Act and the Northern Ireland Act (Class 4 contributions recoverable under the Income Tax Acts and under regulations) for “£7,225” (lower limit) in each place where it appears, substitute “£7,605”.