Regulation 108 Transfer statementI1
United Kingdom
This regulation applies in relation to—
a request for a transfer payment to be accepted from another pension scheme that is not a club scheme; and
a request for a transfer payment in respect of added pension to be accepted from another club scheme.
The scheme manager may require that, before making a transfer payment request, a member must ask the scheme manager to provide a statement of the amount of transferred pension that the member will be entitled to count under regulation 109 (amount of transferred pension) F1if the transfer date falls within the period of 2 months beginning with the date of that statement.
The amount specified in the transfer statement must be an amount calculated by the scheme manager in accordance with actuarial guidance and tables by reference to—
factors relating to the member’s circumstances as at the end of that 2 month period; and
any other factors as at the date of the statement that the scheme manager, having consulted the scheme actuary, considers should apply.
Annotations
Textual amendments
- F1
Words in reg. 108(2) inserted (1.4.2015) by The Armed Forces Pension Scheme and Early Departure Payments Scheme (Amendment) Regulations 2015 (S.I. 2015/466), regs. 1(2), 17