Transfer of Benefits

We often receive queries about transferring benefits into existing Defined Contributions (DC) pension plans with Irish Life Corporate Business.

These queries can come from a number of sources; members, trustees, financial advisers or other life offices.

We appreciate the process can be a little confusing so we took it as an opportunity to look at our documentation and the process itself.

Before Irish Life DC can issue a willing and able letter accepting a transfer in, we must seek approval from the receiving scheme trustees.  In order to seek trustee approval we need details of the proposed transfer.

To this end we have a Transfer of Benefits Form that can be completed by the transferring life office with the information we require. You can find the form in the Document Download Centre of our website, in the Customer Service Forms section.
To support this we have designed a chart for members that illustrate the typical steps involved in the transfer process.  This can be used as a tool in explaining to members the process involved in transferring from one plan to another.

Click on the image below to see a larger version of the step by step guide.