Article 11 Increase in rate of graduated retirement benefit

(1)

In the National Insurance Act 1965^f1 the sum of 8.11 pence referred to in section 36(1) (graduated retirement benefit) shall be increased by 3.6 per cent.; and from and including 6th April 1998 the reference in that provision to that sum shall have effect as a reference to 8.40 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 1978^f2 (increases for deferred retirement) shall be increased by 3.6 per cent. of their amount apart from this Order.

(3)

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 3.6 per cent. of their amount apart from this Order.

Annotations

Footnotes

f1: 1965 c. 51. Sections 36 and 37 were repealed by the Social Security Act 1973 (c. 38) but are continued in force by regulation 3 of the Social Security (Graduated Retirement Benefit) (No. 2) Regulations 1978 (S.I. 1978/393) in the modified form set out in Schedule 1 to those Regulations; relevant amending instrument is S.I. 1989/1642. See also regulation 2 of those Regulations, which was substituted by S.I. 1995/2606.
f2: S.I. 1978/393; relevant amending instrument is S.I. 1989/1642.