
PART 1
1 
These Regulations may be cited as the Social Security (Contributions) (Rates, Limits and Thresholds Amendments and National Insurance Funds Payments) Regulations 2023 and come into force on 6th April 2023.
PART 2
2 
In this Part—
 “the Act” means the Social Security Contributions and Benefits Act 1992; and
 “the Northern Ireland Act” means the Social Security Contributions and Benefits (Northern Ireland) Act 1992.
3 
In section 11 of the Act and the Northern Ireland Act (Class 2 contributions)—
(a) in subsections (2) and (6) for “£3.15” substitute “£3.45”; and
(b) in subsection (4)(a) (lower profits threshold) for “£11,908” substitute “£12,570”.
4 
In section 13(1) of the Act and the Northern Ireland Act (Class 3 contributions) for “£15.85” substitute “£17.45”.
5 
In regulation 10 of the Social Security (Contributions) Regulations 2001 (earnings limits and thresholds) in the introductory words for “2022” substitute “2023”.
6 
In section 8 of the National Insurance Contributions Act 2022 (upper secondary threshold for earnings: freeport tax site employees and armed forces veterans)—
(a) in subsection (1) for “year beginning with 6 April 2022” substitute “years beginning with 6 April 2022 and 6 April 2023”; and
(b) in subsection (2) for “and 6 April 2022” substitute “, 6 April 2022 and 6 April 2023”.
PART 3
7 
Section 2(2) of the Social Security Act 1993 (payments into National Insurance Fund out of money provided by Parliament) has effect with respect to the tax year 2023-24 and the prescribed percentage of estimated benefit expenditure for the financial year ending with 31stMarch in that tax year shall be 5 per cent.
8 
Article 4(3) of the Social Security (Northern Ireland) Order 1993 (payments into Northern Ireland National Insurance Fund out of appropriated money) has effect with respect to the tax year 2023-24 and the prescribed percentage of estimated benefit expenditure for the financial year ending with 31st March in that tax year shall be 5 per cent.
Andrew Stephenson
Steve Double
Two of the Lords Commissioners of His Majesty’s Treasury
1st March 2023