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Read MoreUnderstanding your Options
Pension Access Options Explained
Got Questions?
Helping You Clearly Understand The Long-Term Implications Of Accessing Your Pension
If you’re approaching retirement and thinking about accessing your pension, it’s important to understand your options clearly. The decisions you make now can have a long-term impact on your future finances. When accessing your pension, you will need to:
- Maximise your tax-free lump sum
- Choose between an Annuity or an Approved Retirement Fund (ARF)
Understanding Your Pension Access Options
When the time comes to access your pension, it’s important to understand the choices available so you can make the best decision for your retirement. Key questions to consider include:
You may have already received correspondence from your pension provider asking you to confirm how much Tax-Free Cash you want to take, and whether you prefer an Annuity or an Approved Retirement Fund (ARF). These decisions are important and can have a long-term impact on your financial security.
Terms such as Tax-Free Cash, Annuity, and Approved Retirement Fund (ARF) can be confusing, but they are terms we deal with every day. We understand what these options truly mean for you and your family. We can explain your options clearly and concisely, so that you make the right decision from the start.
About To Access Your Pension
When you access your pension, you can take a tax-free lump sum calculated either as 25% of your fund value or, in some cases, up to 1.5 times your final salary.
You then choose what to do with the rest of your pension:
Before you decide, make sure you have a handle on the long-term impact of each option, as the right choice depends on your own personal circumstances, click here for information on what happens when you access your pension.
Remember your tax-free lump sum is limited to €200,000 with any amount over €200,000 taxed at 20%),
Why Choose
ARF Ireland?
01.
Expertise & Experience
Over 20 years of experience assisting individuals to draw down their pensions across Ireland.02.
Pension Problem Solving
Daily solving of complex revenue pension problems for our clients who are business owners or PAYE individuals with large sums in their pensions.
03.
Non-Biased & Personalised Advice
We compare the whole market and tailor recommendations based on your financial goals, age, and tax situation.
04.
Regulated Advisors
ARF Ireland is regulated by the Central Bank of Ireland.05.
Clear, Simple Explanations
No jargon, just straightforward guidance on how your ARF works, how withdrawals are taxed, and how long your fund is likely to last.06.
Tax-Efficient Withdrawal Planning
We help structure your income for maximum tax efficiency.07.
Ongoing Support
Regular communication, pension reviews, and tax advice to help you adapt to the ongoing changing Revenue rules for pension funds.08.
Investment Strategy Built For Retirement
We design a suitable ARF investment plan balancing growth, risk control, and your long-term income needs.
Our trusted experts
Our Team Members
We know that planning to access your pension is a very important, if not one of the most important, and personal decisions you’ll ever make. We’re passionate about keeping our approach clear and concise and giving our clients the support and guidance they need when it comes to Pension Access and Tax Advice.
Michael Coburn
Pension, Tax & Investment Specialist
Jim
Doyle
Owner &
Director
Joanne Fenelon
Communications Manager
Kelly
Keane
Financial
Advisor
Evan Rowan
Financial Administrator
Things We Get Asked
Questions and Answers
Do I have to take my tax-free lump sum before setting up an ARF?
Yes, it will always make sense to take your tax-free lump sum when setting up an ARF.
Can I have more than one ARF?
Yes, you can hold multiple ARFs with different insurance companies or consolidate them into one. Many people consolidate to get lower fees or for simpler management and less paperwork. You will need advice from an advisor like us to ensure the existing pension structure allows you to do this.
Is there a minimum amount needed to set up an ARF?
The minimum amount to set up an ARF will vary. Your adviser will be able to let you know, depending on which insurance company you are investing with.
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