The Social Security (Class 1 Contributions—Contracted-out Percentages) Order 1987
This Order, a draft of which has been laid before and approved by a resolution of each House of Parliament, is made consequent upon the second review made under section 28 of the Social Security Pensions Act 1975 (“the 1975 Act”), following a report by the Government Actuary under that section in relation to the contracted-out percentages under section 27 of the 1975 Act and to changes in the cost of occupational pension schemes of providing guaranteed minimum pensions. The Order decreases, with effect from 6th April 1988, the contracted-out percentages to be deducted from the normal percentage for both primary and secondary Class 1 contributions.