(1)In this Act “retirement pension income” means any of the following—
(a)a Category A or Category B retirement pension payable under sections 43 to 55 of—
(i)the Contributions and Benefits Act; or
(ii)the Social Security Contributions and Benefits (Northern Ireland) Act 1992 (c. 7);
(b)a shared additional pension payable under section 55A of either of those Acts (utilisation of State scheme pension credits on divorce);
(c)graduated retirement benefit payable under section 62 of either of those Acts;
(d)a Category C or Category D retirement pension payable under section 78 of either of those Acts;
(e)age addition payable under section 79 of either of those Acts;
(f)income from an occupational pension scheme or a personal pension scheme;
(g)income from an overseas arrangement;
(h)income from a retirement annuity contract;
(i)income from annuities or insurance policies purchased or transferred for the purpose of giving effect to rights under a personal pension scheme or an overseas arrangement;
(j)income from annuities purchased or entered into for the purpose of discharging liability under—
(i)section 29(1)(b) of the Welfare Reform and Pensions Act 1999 (c. 30) (pension credits on divorce); or
(ii)Article 26(1)(b) of the Welfare Reform and Pensions (Northern Ireland) Order 1999 (S.I. 1999/3147 (N.I. 11)) (corresponding provision for Northern Ireland).
[F1(k)any sum payable by way of pension under section 5 of the Civil List Act 1837 or section 7 of the Civil List Act 1952;]
[F2(l)any payment, other than a payment ordered by a court or made in settlement of a claim, made by or on behalf of a former employer of a person on account of the early retirement of that person on grounds of ill-health or disability]
[F3(m)any payment made at regular intervals under an equity release scheme.]
[F4(n)any payment made under the Financial Assistance Scheme Regulations 2005.]
(2)The Secretary of State may by regulations amend subsection (1); and any such regulations may—
(a)add to or vary the descriptions of income for the time being listed in that subsection; or
(b)remove any such description from that subsection.
(3)In this section—
“overseas arrangement” has the meaning given by section 181(1) of the Pension Schemes Act 1993 (c. 48);
“retirement annuity contract” means a contract or scheme approved under Chapter 3 of Part 14 of the Income and Corporation Taxes Act 1988 (c. 1).
Textual Amendments
F1S. 16(1)(k) substituted (1.4.2012) by Sovereign Grant Act 2011 (c. 15), s. 15(1), Sch. 1 para. 32
F2S. 16(1)(l) added by virtue of S.I. 2002/1792, reg. 16 (as amended (6.10.2003) by The State Pension Credit (Consequential, Transitional and Miscellaneous Provisions) (No. 2) Regulations 2002 (S.I. 2002/3197), reg. 1(b), Sch. para. 4(c))
F3S. 16(1)(m) added by S.I. 2002/1792, reg. 16 (as amended (4.10.2004) by The Social Security (Housing Benefit, Council Tax Benefit, State Pension Credit and Miscellaneous Amendments) Regulations 2004 (S.I. 2004/2327), regs. 1(1)(a), 7(4))
F4S. 16(1)(n) added by S.I. 2002/1792, reg. 16 (as amended (18.12.2005) by The State Pension Credit (Amendment) Regulations 2005 (S.I. 2005/3205), regs. 1, 2(3))
Commencement Information
I1S. 16 partly in force; s. 16 not in force at Royal Assent, see s. 22(3); s. 16 in force for certain purposes at 2.7.2002 by S.I. 2002/1691, art. 2
I2S. 16 in force at 6.10.2003 in so far as not already in force by S.I. 2003/1766, art. 2(a)