404. Ways Of Taking Right To Cash Equivalent. | Personal Occupational Pensions | LexisNexis

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404. Ways of taking right to cash equivalent.

A member¹ of a pension scheme who has acquired a right to take a cash equivalent² may only take it by making an application in writing to the trustees or managers³ of the scheme requiring them to use the cash equivalent in one of the specified ways⁴.

In the case of a member of an occupational pension scheme⁵ that is not an unfunded public service defined benefits scheme⁶, the ways referred to are:

(1) for acquiring transfer credits⁷ allowed under the rules of another occupational pension scheme: (a) the trustees or managers of which are able and willing to accept

(4) Transfer Rights

401. Circumstances in which the right to a cash equivalent applies.

402. Right to statement of entitlement: benefits other than money purchase.

403. The right to a cash equivalent.

404. Ways of taking right to cash equivalent.

405. Further provisions concerning exercise of option to take cash equivalent.

406. Calculation of cash equivalents.

407. Loss of right to cash equivalent.

408. Trustees' duties after exercise of option.

409. Occupational pension schemes: special cases.

410. Disclosure requirements.