Leaving service options letter for a defined benefit scheme
Instructions for use – leaving service options letter for a defined benefit (DB) scheme
- The model document under ‘Related File(s)’ below is a sample leaving service options letter for a DB scheme. Information will need to be tailored to the particular 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
– if there is an option for alternative benefits
– a time limit in which the member must request a transfer
– any additional benefits that are payable and whether any amounts have been transferred without the member’s
consent
– provisions under which benefits may/will be increased
– modification of the risk statement.
While the Authority considers that this sample leaving service options letter has been prepared in accordance with the relevant legislation at 7 April 2015, anyone preparing a leaving service options letter should satisfy themselves that the information they give is compliant with the applicable legislative requirements.
