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75An individual’s transferable sum must be transferred from the Pension Fund if the following conditions are met—
has been but is no longer a participating member, and
is not a scheme pensioner.
|Condition 2||The individual has total reckonable service of at least 3 months.|
|Condition 3||The Fund trustees have given the individual a statement of entitlement in pursuance of section 93A of the Pension Schemes Act 1993 (c. 48).|
The individual gives the Fund trustees notice (a “transfer-out notice”)—
specifying the way in which the transferable sum is to be transferred, and
setting out any other information which the Fund trustees may reasonably require in relation to the transfer.
The transfer-out notice is given before the later of—
the day falling 6 months after the individual stopped being a participating member, and
the individual’s 64th birthday.
|Condition 6||The transfer-out notice is given within 3 months of the guarantee date relating to the statement of entitlement (see section 93A(2) of the Pension Schemes Act 1993 (c. 48)).|
|Condition 7||The way in which the transferable sum is to be transferred is permitted by section 95(2) of the Pension Schemes Act 1993 (c. 48).|
would be a recognised transfer for the purposes of section 169 of the Finance Act 2004 (c. 12), and
is not prohibited by any other enactment.
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Text created by the Scottish Executive department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Acts of the Scottish Parliament except those which result from Budget Bills
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