Regulation 110 Club transfer value statementI1
United Kingdom
This regulation applies in relation to a request for a club transfer value payment to be accepted from another club scheme.
The scheme manager may require that, before making the transfer payment request, the member must ask the scheme manager to provide a statement of the amount of club transfer earned pension that the member will be entitled to count under regulation 111 (amount of club transfer earned pension) if the transfer date falls within the period of 2 months beginning with the date of that statement.
The amount of club transfer earned pension specified in the statement must be 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, after consultation with the scheme actuary, considers should apply.
The statement must specify the basis on which an amount of accrued earned pension is revalued under the sending scheme while a member is in pensionable service under that scheme.