C1C2C4C5 Part I Contributions

Annotations:
Modifications etc. (not altering text)
C1

Pt. I (ss. 1-19): power to modify conferred (7.2.1994) by 1993 c. 49, s. 35, Sch. 1 Pt. I para. 5(3)(d); S.R. 1994/17, art. 2

Pt. I (ss. 1-19) amended (1.4.1999) by 1999 c. 2, s. 3(1)(7); S.I. 1999/527, art. 2(b), Sch. 2

C4

Pt. 1 modified (6.4.2022 for the tax year 2022-23) by Health and Social Care Levy (Repeal) Act 2022 (c. 43), s. 2(3) (with Sch. para. 8)

C5

Pt. 1 modified (6.4.2022 for the tax year 2022-23) by Health and Social Care Levy (Repeal) Act 2022 (c. 43), Sch. para. 5(1)(2)(4) (with Sch. para. 8)

F1Class 3A contributions

Annotations:
Amendments (Textual)
F1

Ss. 14A-14C and cross-heading inserted (1.10.2014 for specified purposes, 12.10.2015 in so far as not already in force) by Pensions Act 2014 (c. 19), s. 56(1), Sch. 15 para. 17; S.I. 2014/2377, art. 2(1)(a)(ii)(3)(d)(iii); S.I. 2015/1670, art. 2(b)

14AClass 3A contributions in return for units of additional pension

F21

An eligible person is entitled to pay a Class 3A contribution before the cut-off date, in return for a unit of additional pension.

F21A

The cut-off date is—

a

5th April 2017, or

b

if later the end of the 30-day period beginning with the day on which the person is sent information about Class 3A contributions by Her Majesty’s Revenue and Customs in response to a request made before 6th April 2017.

C32

A person is eligible to pay a Class 3A contribution if the person—

a

is entitled to a Category A, Category B or Category D retirement pension or graduated retirement benefit, or

b

has deferred entitlement to a Category A or Category B retirement pension or graduated retirement benefit.

3

The amount of a Class 3A contribution needed to obtain a unit of additional pension is to be determined in accordance with regulations made by the Treasury.

4

Before making those regulations the Treasury must consult the Government Actuary or the Deputy Government Actuary.

5

A person—

a

may pay Class 3A contributions on more than one occasion, but

b

may not obtain more than the maximum number of units of additional pension.

6

The maximum number of units of additional pension that a person may obtain is to be specified by the Treasury in regulations.

7

In this section “deferred”, in relation to graduated retirement benefit, has the meaning given by section 35(4A) of the National Insurance Act (Northern Ireland) 1966.

8

For the meaning of “deferred” in relation to a Category A or Category B retirement pension, see section 55(3) of this Act.

14BClass 3A contributions: repayment

1

The Treasury may by regulations provide for a Class 3A contribution to be repaid in specified circumstances.

2

Regulations under subsection (1) may, in particular, make provision about applications for repayments and other procedural matters.

3

A person is to be treated as never having had a unit of additional pension if the Class 3A contribution paid in respect of it is repaid.

4

Regulations under subsection (1) may provide for benefits paid to a person because of the unit of additional pension to be recovered by deducting them from the repayment.

14CClass 3A contributions: power to change eligibility or remove the option to pay

1

The Treasury may by regulations change who is eligible to pay Class 3A contributions.

2

The Treasury may by regulations remove the option for people to pay Class 3A contributions.

3

Regulations under this section may, in particular, amend an Act.