cash transfer sum
Introduced by the Pensions Act 2004, an early leaver from a salary-related pension scheme (salary-related scheme) with at least three months' pensionable service at the date his or her employment ends may ask the trustees to pay a cash transfer sum to another registered pension scheme. Alternatively, the member may ask for a refund of his or her contributions to the scheme. Members only have a right to preserved benefits in the scheme if they have two years' pensionable service on leaving employment.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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