This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Universal Credit Regulations 2013 No. 376
9. The value of any policy of life insurance.
10.—(1) The value of any right to receive a pension under an occupational or personal pension scheme or any other pension scheme registered under section 153 of the Finance Act 2004(1).
(2) “Occupational pension scheme” and “personal pension scheme” have the meaning in section 1 of the Pension Schemes Act 1993(2).
11.—(1) The value of a funeral plan contract.
(2) “Funeral plan contract” means a contract under which the person makes payments to a person to secure the provision of a funeral and where the sole purpose of the plan is the provision of a funeral.
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