Paragraph P2 Applications for statements of entitlement
A former participant who requires a transfer value payment to be made must apply in writing to the Trustees for a statement of the amount of the cash equivalent of the former participant’s accrued benefits under the Scheme at the guarantee date (“a statement of entitlement”).
In these Regulations, “the guarantee date” means any date that—
falls within the required period,
is chosen by the Trustees,
is specified in the statement of entitlement, and
is within the period of 10 days ending with the date on which the former participant is provided with the statement of entitlement.
In counting the period of 10 days referred to in sub-paragraph (d), Saturdays, Sundays, Christmas Day, New Year’s Day and Good Friday are excluded.
In paragraph (2) “the required period” means—
the period of 3 months beginning with the date of the former participant’s application for a statement of entitlement, or
such longer period (not exceeding six months beginning with that date) as may reasonably be required if, for reasons beyond the control of the Trustees, the requisite information cannot be obtained to calculate the amount of the cash equivalent.
The former participant may withdraw the application for a statement of entitlement by notice in writing at any time before the statement is provided.
A former participant who—
has made an application for a statement of entitlement under this regulation (“the first application”), and
has not withdrawn it,
may make only one other such application in the period of twelve months beginning with the date of the first application.