Explanatory Note
(This note is not part of the Regulations)
These Regulations further amend the Social Security (Contributions) Regulations 1979 ( “the principal Regulations”).
Regulation 2 amends regulation 7 of the principal Regulations by increasing the weekly lower and upper earnings limits for Class 1 contributions for the tax year beginning on 6th April 1992. The lower earnings limit is increased from £52 to £54 and the upper earnings limit from £390 to £405.
Regulation 2 also amends regulation 115 of the principal Regulations.
The amendment to regulation 115 reduces the abatement of percentage rates of Class 1 contributions payable by and in respect of serving members of the forces. In the case of primary contributions the abatement is decreased from 0.6 per cent to 0.4 per cent and in the case of secondary contributions from 0.7 per cent to 0.4 per cent.
Regulation 2(2) of these Regulations is made under section 1 of the Social Security Pensions Act 1975 and the proposals for it are exempt from reference to the Social Security Advisory Committee by virtue of section 10(2) of, and paragraph 13(1) of Schedule 3 to, the Social Security Act 1980 (c. 30).