http://www.legislation.gov.uk/uksi/2002/1792/regulation/20/2003-05-21The State Pension Credit Regulations 2002texttext/xmlenStatute Law DatabaseSOCIAL SECURITY2024-11-29Expert Participation2003-05-21The Regulations contained in this Instrument are made either by virtue of, or in consequence of, provisions in the State Pension Credit Act 2002 (c.16) (“the 2002 Act”). This Instrument is made before the expiry of the period of 6 months beginning with the coming into force of those provisions; the regulations in it are therefore exempt in accordance with section 173(5) of the Social Security Administration Act 1992 from the requirement in section 172(2) of that Act to refer proposals to make Regulations to the Social Security Advisory Committee and are made without reference to that Committee.The State Pension Credit Regulations 2002PART IIIIncome Calculation of capital outside the United Kingdom20.

Capital which a claimant possesses in a country outside the United Kingdom shall be calculated—

(a)

in a case where there is no prohibition in that country against the transfer to the United Kingdom of an amount equal to its current market or surrender value in that country, at that value;

(b)

in a case where there is such a prohibition, at the price which it would realise if sold in the United Kingdom to a willing buyer,

less, where there would be expenses attributable to sale, 10 per cent., and the amount of any encumbrance secured on it.

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