16 Retirement pension incomeE+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).
(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).
Commencement Information
I1S. 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