Regulation 2 Earnings Factors for the tax year 1986—87

For the tax year commencing 6th April 1986, paragraph 2 of Schedule 1 to the Social Security (Earnings Factor) Regulations 1979^f1 shall have effect as if for sub-paragraphs (e) and (f) there were substituted the following sub-paragraphs—

“(e)

F is—

(i)

in relation to any Class 1 contributions paid at a rate specified in section 4(6)—(6B) of the Act—

(aa)

1.8 where P − Q is less than £156;

(bb)

$$\genfrac{}{}{0.1ex}{}{142}{\mathrm{P}-\mathrm{Q}}+0.89$$

where P − Q is not less than £156 but not greater than £1,290.91;

(cc)

1, where P − Q is greater than £1,290.91;

(ii)

in relation to any Class 1 contributions paid at a rate so specified as modified by regulations under section 128 of the Act—

(aa)

1.976, where P is less than £127.90;

(bb)

$$\genfrac{}{}{0.1ex}{}{140.2}{\mathrm{P}}+0.88$$

, where P is not less than £127.90 but not greater than £1,161.82;

(cc)

1, where P is greater than £1,161.82;

(iii)

in relation to any Class 1 contributions paid at a rate so specified as modified by regulations under section 129 of the Act—

(aa)

1.842, where P is less than £148.18;

(bb)

$$\genfrac{}{}{0.1ex}{}{141.5}{\mathrm{P}}+0.887$$

, where P is not less than £148.18 but not greater than £1,255.05;

(cc)

1, where P is greater than £1,255.05;

(iv)

in relation to such part of any Class 1 contributions as is paid at the normal percentage in accordance with section 27(1)(a) of the Pensions Act in a year in which no payment is made of contributions to which head (i) above applies—

(aa)

1.8, where P − Q is less than £98.80;

(bb)

$$\genfrac{}{}{0.1ex}{}{177.84}{\mathrm{P}-\mathrm{Q}}$$

, where P − Q is not less than £98.80 but not greater than £177.84;

(cc)

1, where P − Q is greater than £177.84;

(v)

in relation to such part of any Class 1 contributions as is paid at the normal percentage in accordance with section 27(1)(a) of the Pensions Act in a year in which there are also paid contributions to which head (i) applies—

(aa)

1.8, where P − Q is less than £156;

(bb)

$$\genfrac{}{}{0.1ex}{}{142}{\mathrm{P}-\mathrm{Q}}+0.89$$

where P − Q is not less than £156 but not greater than £1,290.91;

(cc)

1, where P − Q is greater than £1,290.91;

(vi)

in relation to such part of any Class 1 contributions as is paid at the normal percentage in accordance with section 27(1)(a) of the Pensions Act as modified by regulations under section 128 of the Act—

(aa)

1.976, where P − Q is less than £81.02;

(bb)

$$\genfrac{}{}{0.1ex}{}{160.06}{\mathrm{P}-\mathrm{Q}}$$

, where P − Q is not less than £81.02 but not greater than £160.06;

(cc)

1, where P − Q is greater than £160.06;

(vii)

in relation to such part of any Class 1 contributions as is paid at the normal percentage in accordance with section 27(1)(a) of the Pensions Act as modified by regulations under section 129 of the Act—

(aa)

1.842, where P − Q is less than £93.86;

(bb)

$$\genfrac{}{}{0.1ex}{}{172.90}{\mathrm{P}-\mathrm{Q}}$$

, where P − Q is not less than £93.86 but not greater than £172.90;

(cc)

1, where P − Q is greater than £172.90;

(f)

G is—

(i)

in relation to any Class 1 contributions paid at the highest of the rates specified in section 4(6)—(6B) of the Act or to any contracted-out contributions ascertained by reference to section 27(2)(a) of the Pensions Act—

(aa)

2.4, where Q is less than £48.48;

(bb)

$$\genfrac{}{}{0.1ex}{}{72}{\mathrm{Q}}+0.915$$

, where Q lies between £48.48 and £847.06;

(cc)

1, where Q is greater than £847.06;

(ii)

in relation to any contracted-out contributions ascertained by reference to section 27(2)(a) of the Pensions Act, as modified by regulations under section 128 of the Act—

(aa)

3.05, where Q is less than £33.05;

(bb)

$$\genfrac{}{}{0.1ex}{}{71}{\mathrm{Q}}+0.902$$

, where Q lies between £33.05 and £724.49;

(cc)

1, where Q is greater than £724.49;

(iii)

in relation to any contracted-out contributions ascertained by reference to section 27(2)(a) of the Pensions Act, as modified by regulations under section 129 of the Act—

(aa)

2.54, where Q is less than £44.20;

(bb)

$$\genfrac{}{}{0.1ex}{}{72}{\mathrm{Q}}+0.911$$

, where Q lies between £44.20 and £808.99;

(cc)

1, where Q is greater than £808.99;

and the amount resulting shall be rounded to the nearest whole penny.”.