PART 2SOCIAL SECURITY BENEFITS AND PENSIONS
Increase in rate of graduated retirement benefitI112
1
In section 36(1) of the National Insurance Act 196547 (graduated retirement benefit)—
a
the sum of “14.92” pence shall be increased by 10.1 per cent; and
b
the reference to that sum shall have effect as a reference to “16.43” 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 197848 (increases for deferred retirement) shall be increased by 10.1 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 200549 (increases of graduated retirement benefit and lump sums) shall be increased by 10.1 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 10.1 per cent.