68. The following payments are to be treated as not being payments to which section 3 of the Act applies—
(a)any pension payment made to a claimant as a beneficiary on the death of a member of any pension scheme;
(b)any PPF periodic payment made to a claimant as a beneficiary on the death of a person entitled to such a payment;
(c)where a pension scheme is in deficit or has insufficient resources to meet the full pension payment, the extent of the shortfall;
(d)any pension payment made under an instrument specified in section 639(2) of the Income Tax (Earnings and Pensions) Act 2003(1);
(e)any guaranteed income payment (which means a payment made under article 15(1)(a) or 29(1)(a) of the Armed Forces and Reserved Forces (Compensation Schemes) Order 2011(2));
(f)any permanent health insurance payment in respect of which the employee had contributed to the premium to the extent of more than 50%.
2003 c.1. Section 639(2) was inserted by section 19 of the Finance Act 2005 (c.7).