Optional contributions (new rates of contributions and amendment to income ceiling).
6.—(1) Section 24B(1) of the Principal Act is amended—
(a) by substituting the following for paragraph (a):
“(a) Subject to paragraph (b), an optional contributor shall pay an optional contribution of an amount equal to 4 per cent. of his or her reckonable income in excess of €2,500 in the preceding contribution year, or €200, whichever is the greater.”,
and
(b) in paragraph (b) (as amended by section 6(1) of the No. 2 Act of 2001), by substituting “€40,420” for “€38,740”.
(2) This section comes into operation on 1 January 2003.
