Common use of Guarantee Date Clause in Contracts

Guarantee Date. The relevant date for calculating a Bilateral transfer payment is the ‘Guarantee Date’ as defined in The Occupational Pensions Schemes (Transfer Values) Regulations 1996, i.e. it must be within 3 months (or exceptionally 6 months) of the date of the member’s application. In practice it will normally be the date when the transfer payment is calculated.

Guarantee Date. The relevant date for calculating a Bilateral transfer payment after 6 April 1997 is the ‘Guarantee Date’ as defined in The Occupational Pensions Schemes (Transfer Values) Regulations 1996, i.e. it must be within 3 months (or exceptionally 6 months) of the date of the member’s application. In practice it will normally be the date when the transfer payment is calculated.