PART 11Transfers
CHAPTER 3Transfers in
Request for acceptance of a transfer payment189
1
P may by written notice to the scheme manager request that a transfer payment be accepted in respect of some or all of P's accrued rights to benefits under another pension scheme.
2
A transfer payment request—
a
must specify—
i
the pension scheme from which the transfer payment is to be made; and
ii
the anticipated amount of the transfer payment;
b
must meet any other conditions the scheme manager requires; and
C1c
subject to paragraph (3), must be made during the period of 12 months beginning with P's first day of eligible service.
3
The scheme manager may treat a transfer payment request as having been made earlier than it was if the scheme manager considers it reasonable to do so in the circumstances.
4
Subject to paragraph (5), on receiving a transfer payment request, the scheme manager may accept the transfer payment if the conditions (if any) that the scheme manager required are met.
5
The scheme manager may not accept a transfer payment if—
a
it would be applied in whole or in part in respect of—
i
the member's entitlement to a guaranteed minimum pension; or
ii
the entitlement of the member's spouse or civil partner to a guaranteed minimum pension; and
b
it is less than the amount required for that purpose, as calculated by the scheme manager in accordance with actuarial guidance and actuarial tables prepared for the purposes of this paragraph.