Paragraph 26

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Sch. 5 para. 15(1A) words substituted by Social Security 2026 reg. 3(5)(a)
Sch. 5 para. 15(1A) words inserted by Social Security (Income and Capital Disregards) 2026 reg. 2(4)(a)
Sch. 5 para. 15(2)-(5) words substituted by Social Security 2026 reg. 3(5)(b)
Sch. 5 para. 15(2)-(5) words substituted by Social Security (Income and Capital Disregards) 2026 reg. 2(4)(b)
Sch. 5 para. 15(6) words substituted by Social Security 2026 reg. 3(5)(b)
Sch. 5 para. 15(6) words substituted by Social Security (Income and Capital Disregards) 2026 reg. 2(4)(b)

The value of the right to receive any income under an annuity or the surrender value (if any) of such an annuity.

Notes on Part II

F1: Sch. V Pt. II heading substituted (6.10.2003) by The State Pension Credit (Consequential, Transitional and Miscellaneous Provisions) Regulations 2002 (S.I. 2002/3019), regs. 1(2)(b), 23(o)(iv)