Every time someone leaves a job where they were a member of an occupational pension scheme, a formal process kicks in behind the scenes. The trustees who hold that pension are required to set out, in writing, exactly what your options are for the money you've built up. That document has a name — Leaving Service Options — and understanding both what it says and how to actually get hold of it is the starting point for deciding what to do next.
It applies whether you resigned, were made redundant, or moved on for any other reason. And in practice, most people never request it themselves — it's one of the first things an adviser handles on your behalf, using a simple signed authorisation.
6 Things to Know
It's triggered the moment you leave an employer
Whether you resign, are made redundant, or your role ends for any other reason, leaving an employer with a pension scheme sets this process in motion.
It's a formal, legally required statement
Trustees or administrators are required to set out your specific options in writing, generally within two months of being notified that your employment has ended.
Your options depend on your length of service
With two or more years of service, your benefits are preserved and you typically have a choice of routes. With less than two years, you're usually limited to a refund of your own contributions.
A Letter of Authority (LOA) is how your adviser gets involved
Providers and trustees won't discuss your pension with anyone other than you, unless you've signed a Letter of Authority (LOA) naming your adviser as authorised to act on your behalf.
It removes the legwork from your side
Once the LOA is signed, your adviser handles the request, the follow-up, and the correspondence with the scheme directly, rather than you having to chase the trustees yourself.
Receiving the letter isn't the same as deciding what to do
The Leaving Service Options letter sets out what's available — it doesn't tell you which option is right for you. That's a separate conversation, with proper advice behind it.
What Information Is in Leaving Service Options?
Leaving Service Options typically confirms your scheme join date, your leaving date, the current value of your benefits, and the specific options available to you given your length of service and scheme type.
For someone with two or more years of service, that usually means a choice between leaving the pension as a preserved deferred benefit, transferring it to a new employer's scheme if one is available and willing to accept it, transferring it to a Buy-Out Bond in your own name, or transferring it to a PRSA.
For someone with less than two years, it will typically confirm you're only entitled to a refund of your own contributions, taxed at 20%.
Why You Can't Just Ring Up and Ask
Pension providers and scheme trustees hold sensitive personal and financial information, and data protection rules mean they generally won't discuss the details of your pension, or release a Leaving Service Options letter, to anyone other than you personally, or someone you've formally authorised in writing to act for you.
That authorisation is called a Letter of Authority, or LOA, and it's a standard, simple document in the pensions industry — but without it, even a spouse or family member usually can't get information released on your behalf.
How the Letter of Authority Process Works
In practice, this is one of the simplest parts of working with an adviser. Once you've engaged us, we complete a Letter of Authority naming Pension Advice as the party authorised to request information about your pension.
You sign it, we submit it directly to the relevant scheme trustees, administrator, or life company, and from that point on, we handle the request, the follow-up, and any back-and-forth needed to get your Leaving Service Options confirmed.
You don't need to track down old scheme contact details, chase a former HR department, or wait on hold with a provider's call centre — that's the part we take off your plate.
The Process, Step by Step
A Letter Isn't a Decision
It's worth being clear about what Leaving Service Options actually are: they are a factual statement of what's available, not a recommendation.
It won't tell you whether leaving the pension where it is suits you better than a Buy-Out Bond, or whether a PRSA makes more sense given your plans for the years ahead.
That's the conversation that happens once Leaving Service Options become available — comparing the actual figures, features of each route against your own situation, rather than choosing based on the letter alone.
Left a pension behind with an old employer? Sign a Letter of Authority with us and we'll request your Leaving Service Options and talk you through what they mean — at no obligation.
Important information: This article is for information purposes only and does not constitute financial advice. Response timeframes and processes can vary by scheme and provider. Always seek professional regulated advice before making decisions about your pension. Gen Z Financial Solutions Limited trading as Pension Advice is regulated by the Central Bank of Ireland.