State Pension Credit Act 2002

16 Retirement pension income E+W+S

(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

F1 S. 16(1)(k) substituted (1.4.2012) by Sovereign Grant Act 2011 (c. 15), s. 15(1), Sch. 1 para. 32

F2 S. 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))

F3 S. 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))

F4 S. 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

I1 S. 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

I2 S. 16 in force at 6.10.2003 in so far as not already in force by S.I. 2003/1766, art. 2(a)