LEAVING SERVICE. A note outlining the member’s options will be issued within 10 working days of receipt of notification. Members may elect to transfer their benefits from their previous Employer’s Pension Scheme to your Small Self Administered Pension Scheme. Wealth Options Trustees will liaise with the Pension Consultants of the previous Approved Pension Scheme in relation to the transfer value, if required. Details regarding previous service and a breakdown of the source of the funds between employer, member and AVCs will be required. SSAPs cannot be set up to accept a transfer in only, regular annual contributions must be paid. The Revenue Commissioners will not grant approval for transfer in only Schemes. Members may elect to transfer their benefits from this Scheme to their new Employer’s Pension Scheme or to a Personal Retirement Bond. In circumstances where Wealth Options Trustees are being replaced as Pensioneer Trustee, a letter of satisfaction will be required before transfer. Any outstanding fees, taxes & levies or wind up costs will be deducted from the fund before final transfer of the remaining assets. Wealth Options Trustees Ltd reserve the right to charge a minimum fee of €1,500 plus vat at wind up.
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