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2.—(1) Rights under a pension arrangement which are not shareable are—
(a)subject to paragraph (2), any rights accrued between 1961 and 1975 which relate to contracted-out equivalent pension benefit within the meaning of section 57 of the National Insurance Act 1965(1) (equivalent pension benefits, etc.);
(b)any rights in respect of which a person is in receipt of—
(i)a pension;
(ii)an annuity;
(iii)payments under an interim arrangement within the meaning of section 28(1A) of the 1993 Act(2) (ways of giving effect to protected rights); or
(iv)income withdrawal within the meaning of section 630(1) of the Income and Corporation Taxes Act 1988(3) (interpretation),
by virtue of being the widow, widower or other dependant of a deceased person with pension rights under a pension arrangement; and
(c)any rights which do not result in the payment of relevant benefits.
(2) Paragraph (1)(a) applies only when those rights are the only rights held by a person under a pension arrangement.
1965 c. 51. Section 57 is continued in force by virtue of regulation 3 of S.I. 1974/2057.
Section 28(1A) is amended by paragraph 5(3) of Schedule 2 to the Welfare Reform and Pensions Act 1999.
The definition of “income withdrawal” was inserted by paragraph 1 of Schedule 11 to the Finance Act 1995 (c. 4).
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