The Social Security Benefits Up-rating Order 2003

Increase in rate of graduated retirement benefit

12.—(1) In section 36(1) of the National Insurance Act 1965(1) (graduated retirement benefit)—

(a) the sum of 9.21 pence shall be increased by 1.7 per cent.; and

(b) from and including 7th April 2003 the reference in that provision to that sum shall have effect as a reference to 9.37 pence.

(2) The sums which are the increases of graduated retirement benefit under Schedule 2 to the Social Security (Graduated Retirement Benefit) (No. 2) Regulations 1978(2) (increases for deferred retirement) shall be increased by 1.7 per cent. of their amount apart from this Order.

(3) The sums which are the additions under section 37(1) of the National Insurance Act 1965 (additions for widows and widowers) shall be increased by 1.7 per cent. of their amount apart from this Order.

(1)

1965 c. 51. Sections 36 and 37 were repealed by the Social Security Act 1973 (c. 38) but are continued in force by regulation 3 of the Social Security (Graduated Retirement Benefit) (No. 2) Regulations 1978 (S.I. 1978/393), in the modified form set out in Schedule 1 to those Regulations; relevant amending instrument is S.I. 1989/1642. See also regulation 2 of those Regulations, which was substituted by S.I. 1995/2606.

(2)

Relevant amending instrument is S.I. 1989/1642.