371. Pension credit benefit: transfer values.

An eligible member1 of a qualifying scheme may by notice in writing require the trustees or managers of the scheme to use an amount equal to the cash equivalent2 of his pension credit rights for such one or more of the authorised purposes3 as he may specify in the notice4. Certain restrictions are placed on the power to give a transfer notice5.

The trustees or managers of a qualifying scheme must, on the application of an eligible member, provide the member with a written statement of the amount of the cash equivalent of the member's pension credit rights in relation