This report has been prepared under sections 142(1), 150(8) and 150A(5) of the Social Security Administration Act 1992 (SSAA 92) and section 1(4) of the Welfare Benefits Up-rating Act 2013. It considers the potential effect on the NIF of:
- the draft Social Security Benefits Up-rating Order 2015 (the Up-rating Order)
- the draft Social Security (Contributions) (Re-rating and National Insurance Funds Payments) Order 2015 (the Re-rating and National Insurance Funds Payments Order)
- the Welfare Benefits Up-rating Order 2015.
This report also includes the potential effect on the Fund of:
the draft Social Security (Contributions) (Limits and Thresholds) (Amendment) Regulations 2015 (the Limits and Thresholds Regulations) and
the proposed changes in the National Insurance Contributions Bill currently before the UK Parliament,
together with the effect of the introduction of Class 3A voluntary contributions under the Social Security Class 3A Contributions (Units of Additional Pension) Regulations 2014.