Sch. V para. 23A inserted (6.4.2006) by The Social Security (Deferral of Retirement Pensions, Shared Additional Pension and Graduated Retirement Benefit) (Miscellaneous Provisions) Regulations 2005 (S.I. 2005/2677), regs. 1(1), 13(4)

http://www.legislation.gov.uk/uksi/2002/1792/schedule/V/paragraph/23A/2016-04-11The State Pension Credit Regulations 2002texttext/xmlenStatute Law DatabaseSOCIAL SECURITY2024-11-29Expert Participation2016-04-11The 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 2002SCHEDULE V INCOME FROM CAPITALPART ICapital disregarded for the purpose of calculating income23A.

Where a person elects to be entitled to a lump sum under Schedule 5 or 5A to the 1992 Act or under Schedule 1 to the Graduated Retirement Benefit Regulations, or is treated as having made such an election, and a payment has been made pursuant to that election, an amount equal to—

(a)

except where sub-paragraph (b) applies, the amount of any payment or payments made on account of that lump sum;

(b)

the amount of that lump sum,

but only for so long as that person does not change that election in favour of an increase of pension or benefit.

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Sch. V para. 23A inserted (6.4.2006) by
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<num>SCHEDULE V</num>
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23A.
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