This report has been prepared under sections 142(1) and 150A(5) of the Social Security Administration Act 1992 (SSAA 92). It considers the potential effect on the NIF of:
- the draft Social Security Benefits Up-rating Order 2016 (the Up-rating Order)
- the draft Social Security (Contributions) (Limits and Thresholds Amendments and National Insurance Funds Payments) Regulations 2016 (“the Contribution Regulations”).
This report includes the potential effect on the Fund of the changes in the National Insurance Contributions (Rate Ceilings) Act 2015 and of the proposed changes in the Welfare Reform and Work Bill currently before the UK Parliament. The report also refers to The Employment Allowance (Increase of Maximum Amount) Regulations 2016 and The Employment Allowance (Excluded Companies) Regulations 2016.