Leaving service options letter for a defined contribution scheme

Instructions for use 

  • The model document under ‘Related File(s)’ below is a sample leaving service options letter for a defined contribution (DC) pension scheme. Information will need to be tailored to the particular pension scheme/member and you may wish to amend the layout or add additional information that you feel is useful for the member. 
  • Where figures are used, they are for illustrative purposes only.
  • The model document contains endnotes which provide further information for the person preparing the leaving service options letter. These deal with:

          – information to be given where a pension adjustment order is in place,

          – an instruction that only the options that are available to the particular member should be presented,

          – whether valuations include additional voluntary contributions and/or transfers in,

          – time limits in which the member must request a transfer, and

          – if any amounts have been transferred without the member’s consent.

While the Pensions Authority considers that this sample leaving service options letter has been prepared in accordance with the relevant legislation at 19 December 2014, anyone preparing a leaving service options letter should satisfy themselves that the information they give is compliant with the applicable legislative requirements.