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Pension - Leaving Service Options Form

Delta2113 · 2024-06-24 09:33:09

Made redundant since April. Just received my form out with 4 options:- Do nothing - deferred retirement benefit Transfer payment to new Employer's Plan (need a job first) Transfer payment to bond Transfer payment to PRSA My first question is how long can I reasonably wait before I reply to the letter? I obviously can't do…

24-06-2024 9:33am

#1
Delta2113

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Posts: 2741
Made redundant since April. Just received my form out with 4 options:-
Do nothing - deferred retirement benefit
Transfer payment to new Employer's Plan (need a job first)
Transfer payment to bond
Transfer payment to PRSA
My first question is how long can I reasonably wait before I reply to the letter?
I obviously can't do option 2 now as I have no new job yet.
Can I wait weeks or months before I send back a reply?

Post edited by Jim2007 on June 24

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#2 24-06-2024 10:18am

howiya

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Posts: 3382

https://www.boards.ie/discussion/2058357091/leaving-service-options-form

It doesn't matter how long you take to reply. Option 1 will prevail until the pension administrator hears otherwise from you.
And when do you get a new job, don't just take option 2 for the sake of it. Compare both schemes. You may or may not be better off leaving it where it is.

2