Social Welfare Act, 1995

PART III

Social Insurance Contributions

Employment contributions (new rates of contributions and increase in earnings ceiling).

6.—(1) Section 10 (1) (inserted by section 7 of the Act of 1994) of the Principal Act is hereby amended by—

(a) the substitution for paragraph (b) of the following paragraph:

“(b) Subject to paragraph (c) and to regulations under section 11, where in any contribution week a payment is made to or for the benefit of an employed contributor in respect of reckonable earnings of that employed contributor, there shall be payable a contribution by the employed contributor at the rate of 5.5 per cent, of the amount of reckonable earnings in excess of £50 in that week in respect of each employment (or the equivalent thereof in the case of an employed contributor remunerated otherwise than on a weekly basis) to which such payment relates.”,

(b) the substitution in paragraph (c) of “£21,500” for “£20,900”, and

(c) the substitution in paragraph (d) of “£231” for “£173” in both places where it occurs.

(2) This section shall come into operation on the 6th day of April, 1995.