PART 7Transfers
CHAPTER 2Transfers values
SECTION 2Transfers out
Application for statement of entitlement134
1
A member (M) who requires a transfer value payment to be made must apply in writing to the scheme manager for a statement of entitlement.
2
M may withdraw the application by notice in writing at any time before the statement of entitlement is provided.
3
The guarantee date is a date that—
a
is within the required period;
b
is chosen by the scheme manager;
c
is specified in the statement of entitlement; and
d
is not more than 10 days after the date on which M is provided with the statement of entitlement.
4
In paragraph (3), the required period is—
a
the period of 3 months beginning with the date of M’s application for a statement of entitlement, or
b
such longer period (not exceeding 6 months) beginning with that date as may reasonably be required if, for reasons beyond the control of the scheme manager, the information required to calculate the cash equivalent cannot be obtained.
5
For the purposes of paragraph (3)(d), Saturdays, Sundays, Christmas Day, New Year’s Day and Good Friday must be ignored.