Social Security Pensions Act 1975

48 Guaranteed minimum pensions to be inalienable. E+W+S

(1) Where a person is entitled or prospectively entitled to a guaranteed minimum pension under an occupational pension scheme [F1 or to payments giving effect to protected rights under such a scheme] and the person’s entitlement is in respect of his or another person’s service in employment which was contracted-out by reference to that scheme—

(a) every assignment of or charge on that pension [F1 or those payments]; and

(b) every agreement to assign or charge that pension [F1 or those payments],

shall be void.

[F2 (1A) In subsection (1) above, the references to assignments of and agreements to assign a guaranteed minimum pension do not include references to any assignment of or agreement to assign a policy of insurance or annuity contract in accordance with conditions prescribed by regulations under section 52C(4)(b) below.].

(2) Subsection (1) above has effect whether or not the assignment, charge or agreement was made at a time when the employment was contracted-out employment or the scheme was a contracted-out scheme in relation to the employment.

(3) On the bankruptcy of a person who is entitled or prospectively entitled as mentioned in subsection (1) above, [F3 nothing whose assignment is or would be made void by that subsection shall] pass to any trustee or other person acting on behalf of his creditors.

(4) In the application of this section to Scotland—

(a) references to assignment shall be construed as references to assignation and “assign” shall be construed accordingly; and

(b) the reference to a person’s bankruptcy shall be construed as a reference to the sequestration of his estate or the appointment on his estate of a judicial factor under section 14 of the M1 Bankruptcy (Scotland) Act 1913 or section 15 of the M2 Solicitors (Scotland) Act 1958.

Textual Amendments

F1 Words inserted (with effect from 6.4.1988) by Social Security Act 1986 (c. 50), Sch. 2, para. 8(a)

F2 S. 48(1A) inserted by Social Security Act 1985 (c. 53), Sch. 5, para. 31

F3 Words substituted (with effect from 6.4.1988) by Social Security Act 1986 (c. 50), Sch. 2, para. 8(b)

Modifications etc. (not altering text)

C1 S. 48 modified, where guaranteed minimum pension rights have been transferred from schemes which are or were contracted-out salary related schemes, by S.I. 1985/1323, Sch. 3, para. 8, with effect from 23.9.1985, and where such rights have been transferred from appropriate policies, by S.I. 1985/1323, Sch. 3A, para. 5, with effect from 27.7.1987

C2 Bankruptcy (Scotland) Act 1913 (c. 20) was repealed (with effect from 29.12.1986) by Bankruptcy (Scotland) Act 1985 (c. 66)

C3 The reference to s. 15 of Solicitors (Scotland) Act 1958 is to be construed, by virtue of Solicitors (Scotland) Act 1980 (c. 46), Sch. 6, para. 2, as a reference to s. 41 of the latter Act

Marginal Citations

M1 1913 c. 20.

M2 1958 c. 28.