Regulation 2 Amendment of the Social Security (Contributions) Regulations 2001

In Part 6 of Schedule 3 to the Social Security (Contributions) Regulations 2001 (payments to be disregarded in the calculation of earnings for the purposes of earnings-related contributions)^f1, after paragraph 15 insert—

“The qualifying amount of a tax redress payment in respect of an MPs’, Senedd or Assembly pension scheme

16.

(1)

The qualifying amount of a tax redress payment.

(2)

For the purposes of this paragraph—

(a)

“qualifying amount”, in relation to a tax redress payment, has the meaning given in regulation 7(3) of the MPs’, Senedd and Assembly Pension Schemes (Tax) Regulations 2025^f2;

(b)

“tax redress payment” has the meaning given in section 15(4) of the Finance Act 2024^f3.”.