If you leave the Scheme at least one year before your normal pension age, or the earliest age at which you are entitled to receive unreduced benefits, and you are entitled to deferred benefits you may transfer the cash equivalent value of your pension benefits into a new employer’s scheme (if they are willing and able to accept it), a personal or stakeholder pension scheme, or a ‘buy-out’ insurance policy. The method of valuing the cash equivalent of your pension rights complies with the requirements of the Pension Schemes Act 1993 and any value quoted is guaranteed for three months.