Secured pension income means:

• A company pension being paid to you either from the UK or from Overseas; or
• An annuity being paid to you (from a personal pension or company pension) either from the UK or from Overseas; or
• A state pension being paid to you either from the UK or from Overseas.

A secured pension income does not include

• Payments from an income drawdown pension
• Payments from a short term annuity (i.e. one that has a specific end date)
• Income from protected rights pensions (i.e. the state second pension or SERPS). These are expected to be abolished from April 2012

A secured pension income is taken as the gross annual amount of pension (i.e. before any income tax is deducted). The requirement to have a secure pension income of £20,000 could change in future to increase the level of income required.