463. Inalienability of guaranteed minimum pension.

Where: (1) a person is entitled or prospectively entitled to a guaranteed minimum pension1 under an occupational pension scheme2; and (2) his entitlement is in respect of his or another person's service in employment3 which was contracted-out4 by reference to that scheme, then every assignment of or charge on that pension, and every agreement to assign or charge that pension, is void5. This provision 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