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Paragraph 3 Applications for statements of entitlement

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

A member who requires a transfer value payment to be made must apply in writing to the authority for a statement of the amount of the cash equivalent of the member’s accrued benefits under the Scheme at the guarantee date (“a statement of entitlement”).

(2)

In this Chapter, “the guarantee date” means any date that—

(a)

falls within the required period,

(b)

is chosen by the authority,

(c)

is specified in the statement of entitlement, and

(d)

is within the period of ten days ending with the date on which the member is provided with the statement of entitlement.

(3)

In counting the period of ten days referred to in paragraph (2)(d), Saturdays, Sundays, Christmas Day, New Year’s Day and Good Friday are excluded.

(4)

In paragraph (2) “the required period” means—

(a)

the period of three months beginning with the date of the member’s application for a statement of entitlement, or

(b)

such longer period (not exceeding six months beginning with that date) as may reasonably be required if, for reasons beyond the control of the authority, the requisite information cannot be obtained to calculate the amount of the cash equivalent.

(5)

The member may withdraw the application for a statement of entitlement by written notice at any time before the statement is provided.

(6)

Where, in any period of twelve consecutive months, a member—

(a)

has made, and not withdrawn, two applications for a statement of entitlement, and

(b)

makes a third (or subsequent) application,

the authority shall not be required to entertain the application if it is not accompanied by a payment of such amount as the authority may reasonably require.