Leaving service options letter for a defined contribution scheme

Instructions for use – leaving service options letter for a defined contribution (DC) scheme

• The model document under ‘Related File(s)’ below is a sample leaving service options letter for a DC 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

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

          – time limits in which the member must request a transfer

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

          – the projection valuation.

While the 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.