Part IIICertification of Pension Schemes and Effects on Members' State Scheme Rights and Duties

Chapter IIReduction in State Scheme Contributions and Social Security Benefits for Members of Certified Schemes

Reduced rates of state scheme Class 1 contributions

38Alteration of rates of contributions under s. 37

1

Whenever the Secretary of State makes an order under section 42 of the [1993 c. 48.] Pension Schemes Act 1993 altering, with effect from any date, either or both of the contracted-out percentages for the time being applying under section 41 of that Act, the Department may make a corresponding order for Northern Ireland altering, with effect from the same date, either or both of the contracted-out percentages applying under section 37.

2

An order under subsection (1) may contain consequential provisions altering any percentage for the time being specified in paragraph 2(3) of Schedule 3 as that percentage applies in relation to earnings paid or payable on or after the day as from which the order is to have effect.