Lower Earnings Limit definition

Lower Earnings Limit means, subject to the Third Schedule, for each financial year , the amount gazetted by the Cabinet Secretary from time to time as the average statutory minimum monthly basic wage for the top urban centres, second tier urban centres and rural areas for the year;
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Lower Earnings Limit means the annual equivalent of that amount as specified in regulations made pursuant to Section 5 of the Social Security Contributions and Benefits Act 1992.
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Lower Earnings Limit means the amount specified for the tax year in question in regulations made under section 5(1)(a)(i) of the 1992 Act (earnings limits and thresholds for Class 1 contributions)(8);”;
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Examples of Lower Earnings Limit in a sentence

  • Employees with average weekly earnings below the Lower Earnings Limit who do not qualify for SMP may be entitled to MA or other benefits.

  • Statutory Maternity Pay (SMP) is paid to employees who have at least 26 weeks’ service immediately before the 15th week before the expected week of childbirth and whose pay is above the Lower Earnings Limit for paying National Insurance Contributions (this changes each year).

  • Adopters who have average weekly earnings below the Lower Earnings Limit for National Insurance Contributions will not qualify for SAP.

  • However, employees must earn above the Lower Earnings Limit (£520 per month) on average between the end of the Coronavirus Job Retention Scheme and the end of January 2021.

  • For employers sponsoring contracted-out occupational DC schemes, there will be an increase in National Insurance contributions of 1.4 percentage points on employee earnings between the Lower Earnings Limit and the Upper Accrual Point.


More Definitions of Lower Earnings Limit

Lower Earnings Limit means, for each financial year, the amount gazetted by the Cabinet Secretary responsible for matters relating to Social security as the average statutory minimum monthly basic wage for the top urban centres, second tier urban centres and rural areas for the year.
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Lower Earnings Limit means, in relation to a Member or Life Assurance Member, his lower earnings limit for the purposes of the Pensions Act.
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Lower Earnings Limit means the annual rate of the lower earnings limit for the purposes of National Insurance contributions from time to time;
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Lower Earnings Limit means the level of weekly earnings at which the liability for Class 1 National Insurance Contributions arises;
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Lower Earnings Limit means in respect of a Member at the date of leaving pensionable service under the BAPP section of the Former Scheme, the annual amount of weekly earnings at which liability for Class 1 National Insurance Contributions arises;
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Lower Earnings Limit means the lower earnings limit for Class 1 contributions for the purposes of section 5(1) of the Social Security Contributions and Benefits Act 1992(12);”;
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Lower Earnings Limit means, in relation to a Member, his lower earnings limit for the purposes of the Pensions Act. "Member" means (a) a person who was an Eligible Employee on 1st January 1985 and who on the previous day was a member under the Old Rules, or
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