Section 14A — Social Security Contributions and Benefits Act 1992: Class 3A contributions in return for units of additional pension

Class 3A contributions in return for units of additional pension 14A 1 An eligible person is entitled to pay a Class 3A contribution before the cut-off date, in return for a unit of additional pension. 1A The cut-off date is—

a 5th April 2017, or b if later the end of the 30-day period beginning with the day on which the person is sent information about Class 3A contributions by Her Majesty’s Revenue and Customs in response to a request made before 6th April 2017.

2 A person is eligible to pay a Class 3A contribution if the person—

a is entitled to a Category A, Category B or Category D retirement pension or graduated retirement benefit, or b has deferred entitlement to a Category A or Category B retirement pension or graduated retirement benefit.

3 The amount of a Class 3A contribution needed to obtain a unit of additional pension is to be determined in accordance with regulations made by the Treasury.

4 Before making those regulations the Treasury must consult the Government Actuary or the Deputy Government Actuary.

5 A person—

a may pay Class 3A contributions on more than one occasion, but b may not obtain more than the maximum number of units of additional pension.

6 The maximum number of units of additional pension that a person may obtain is to be specified by the Treasury in regulations.

7 In this section “ deferred ”, in relation to graduated retirement benefit, has the meaning given by section 36(4A) of the National Insurance Act 1965.

8 For the meaning of “ deferred ” in relation to a Category A or Category B retirement pension, see section 55(3) of this Act.