Statutory Instruments
2001 No. 1356
PENSIONS
The Social Security (Reduced Rates of Class 1 Contributions) (Salary Related Contracted-out Schemes) Order 2001
Made
3rd April 2001
Coming into force
6th April 2002
Whereas the Secretary of State has, under section 42 of the Pension Schemes Act 1993, laid before each House of Parliament a report stating what, in view of the report by the Government Actuary under that section, alteration is in his opinion required in the percentages should be under section 41(1A) and (1B) of that Act( 1 ):
And whereas a draft of the following Order was, in accordance with section 42 of the Pension Schemes Act 1993, laid before, and approved by a resolution of, each House of Parliament:
Now, therefore, the Secretary of State for Social Security, in exercise of powers conferred on him by section 42 of the Pension Schemes Act 1993 and sections 38 and 181(9A) of the Pension Schemes (Northern Ireland) Act 1993( 2 ), and of all other powers enabling him in that behalf, hereby makes the following Order:
Citation and commencement
Alteration of reduced rates of Class 1 contributions
2. In section 41 of the Pension Schemes Act 1993 and section 37 of the Pension Schemes (Northern Ireland) Act 1993( 3 ) (reduced rates of Class 1 contributions) in subsection (1B) for “3 per cent”, substitute “3.5 per cent”.
Signed by authority of the Secretary of State for Social Security.
Jeff Rooker
Minister of State,
Department of Social Security
3rd April 2001
1993 c. 48 . Sections 41(1A) and (1B) were substituted by paragraph 6(3) of Schedule 9 to the Welfare Reform and Pensions Act 1999 (c. 30) . Section 42 was amended by section 137 of, and paragraph 41 of Schedule 5 to, the Pensions Act 1995 (c. 26) and section 34 of, and paragraph 4 of Schedule 5 to, the Child Support, Pensions and Social Security Act 2000 (c. 19) .
1993 c. 49 Section 38 was amended by Article 134 of the Pensions (Northern Ireland) Order 1995 (S.I. 1995/3213 (N.I. 22) ) and by paragraph 51 of Schedule 1 to the Social Security Contributions (Transfer of Functions, etc. ) (Northern Ireland) Order 1999 (S.I. 1999/671 ). Section 181(9A) was inserted by paragraph 76 of Schedule 1 to the Social Security Contributions (Transfer of Functions, etc.) (Northern Ireland) Order 1999.
Section 37(1B) was substituted by paragraph 6(3) of Schedule 10 to the Welfare Reform and Pensions Act 1999.