# The Social Security Benefits Up-rating Order 2004, Article 12: Increase in rate of graduated retirement benefit


(1) In section 36(1) of the National Insurance Act 1965 (graduated retirement benefit)—
(a) the sum of 9.37 pence shall be increased by 2.8 per cent.; and
(b) from and including 12th April 2004 the reference in that provision to that sum shall have effect as a reference to 9.63 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 (increases for deferred retirement) shall be increased by 2.8 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 2.8 per cent. of their amount apart from this Order.

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Source: https://www.legislation.gov.uk/ukdsi/2004/0110485009/article/12 (the official version)
Page: https://openlegislation.uk/draft-social-security-benefits-up-rating-order-2004/article-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.