Paragraph 1 F1

In this Part of this Schedule—

• F2“Class 1 contributions” means primary Class 1 contributions paid or treated as paid on so much of a person’s earnings as do not exceed the current upper earnings limit or the prescribed equivalent if he is paid otherwise than weekly;

• “contracted-out contributions” means primary Class 1 contributions paid or treated as paid on so much of a person’s earnings in respect of any contracted-out employment as exceed the current lower earnings limit but do not exceed the current upper earnings limit or the prescribed equivalents if he is paid otherwise than weekly;

• “the standard level” in relation to any year means that year’s lower earnings limit for F3primary Class 1 contributions multiplied by 50; and

• each paragraph has effect subject to the provisions of all later paragraphs.

Paragraphs 2, 3 and 4 below shall apply for the purposes specified in section 13(2) of the ActF4, or section 2(4) of the Pensions Act 2014, and paragraph 5 below for the purposes of section 35 of the Social Security Pensions Act1975 (earner’s guaranteed minimum).