Part XI General and Miscellaneous Provisions
Avoidance of certain transactions and provisions
C1C4C5155 Inalienability of guaranteed minimum pension and protected rights payments.
1
Where—
a
a person is entitled or prospectively entitled to a guaranteed minimum pension under an occupational pension scheme or to payments giving effect to protected rights under such a scheme; and
b
his entitlement is in respect of his or another person’s service in employment which was contracted-out by reference to that scheme;
then—
i
every assignment of or charge on that pension or those payments, and
ii
every agreement to assign or charge that pension or those payments,
shall be void.
2
In subsection (1), 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 15(4)(b).
3
Subsection (1) 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.
C24
Every assignment of or charge on and every agreement to assign or charge protected rights under a personal pension scheme or payments giving effect to such protected rights shall be void.
F1C34A
Where a person—
a
is entitled or prospectively entitled as is mentioned in subsection (1), or
b
is entitled to such rights or to such a payment as is mentioned in subsection (4),
no order shall be made by any court or the Enforcement of Judgments Office the effect of which would be that he would be restrained from receiving anything the assignment of which is or would be made void by either of those subsections.
4B
Subsection (4A) does not prevent the making of an attachment of earnings order under the Judgments Enforcement (Northern Ireland) Order 1981.
5
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