
1 

(1) This Order may be cited as the Social Security (Contributions) (Re-rating and National Insurance Fund Payments) Order 1998 and shall come into force on 6th April 1998.
(2) In this Order “the Act” means the Social Security Contributions and Benefits Act 1992.
2 
In section 11 of the Act (Class 2 contributions)—
(a) in subsection (1) (weekly rate) for “£6.15”, substitute “£6.35”;
(b) in subsection (4) (small earnings exception) for “£3,480”, substitute “£3,590”.
3 
In section 13(1) of the Act (amount of Class 3 contributions) for “£6.05”, substitute “£6.25”.
4 
In section 15(3) and section 18(1) of the Act (Class 4 contributions recoverable under the Income Tax Acts and under regulations)—
(a) for “£7,010” (lower limit) in each place where it appears, substitute “£7,310”;
(b) for “£24,180” (upper limit) in both places where it appears, substitute “£25,220”.
5 
Section 2(2) of the Social Security Act 1993 (payments into the National Insurance Fund out of money provided by Parliament) shall have effect with respect to the tax year 1998–99 and the prescribed percentage of estimated benefit expenditure for the financial year ending with 31st March in that tax year shall be 2 per cent..
Signed by authority of the Secretary of State for Social Security.
Frank Field
Minister of State,
Department of Social Security
25th February 1998We consent,
Bob Ainsworth
Jim Dowd
Two of the Lords Commissioners of Her Majesty’s Treasury
27th February 1998