5.—(1) Schedule 3 (employees’ and employers’ contributions) is amended in accordance with paragraphs (2) and (3).
(2) Omit paragraph 1;
(3) In paragraph 2—
(a)in sub-paragraph (1) omit “unless paragraph 3 applies”;
(b)in sub-paragraph (2) —
(i)omit the words “for the initial contribution period”;
(ii)for the table substitute—
Annual contributable salary | Rate |
|---|---|
| Up to £14,999 | 6.4% |
| £15,000 to £25,999 | 7.0% |
| £26,000 to £31,999 | 7.9% |
| £32,000 to £39,999 | 8.8% |
| £40,000 to £44,999 | 9.2% |
| £45,000 to £74,999 | 10.1% |
| £75,000 to £99,999 | 10.6% |
| £100,000 and above | 11.2%”. |
(c)omit sub-paragraph (3);
(d)omit paragraph 3;
(e)in paragraph 4—
(i)in sub-paragraph (2) omit “for the initial contribution period”; and
(ii)omit sub-paragraphs (3) to (8);
(f)omit paragraph 5.