PART 2SOCIAL SECURITY BENEFITS AND PENSIONS
Increase in rate of graduated retirement benefit12
1
In section 36(1) of the National Insurance Act 196549 (graduated retirement benefit)—
a
the sum of “14.40” pence shall be increased by 0.5 per cent; and
b
the reference to that sum shall have effect as a reference to “14.47” 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 197850 (increases for deferred retirement) shall be increased by 0.5 per cent.
3
The sums which are lump sums to which surviving spouses or civil partners will become entitled under Schedule 1 to the Social Security (Graduated Retirement Benefit) Regulations 200551 (increases of graduated retirement benefit and lump sums) shall be increased by 0.5 per cent.
4
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 0.5 per cent.