About ARFs – Approved Retirement Funds
An ARF enables you to generate a regular income from your Pension Fund when you reach retirement age, while retaining ownership of your accumulated pension fund. Your ARF is an asset and it will be part of your estate should you pass away.
We research the market on your behalf and provide up to 6 quotes, ensuring you get optimum value for your ARF.
Legal Requirement and Revenue Rules
There are detailed rules around ARF’s, and these rules need to be understood when making your choice.
In order to be eligible to invest in an ARF your pension fund must have been accumulated in certain Qualifying Pension Funds. These Qualifying Funds must be one of the following:
- Personal Pension Funds
- Personal Retirement Savings Accounts (PRSAs)
- Company Pension Schemes
- Additional Voluntary Contributions (AVCs)
- Buy Out Bonds
You may also want to avail of the opportunity to draw down a tax free lump sum when you reach retirement age.
Typically your ARF will provide part of your retirement finances, and early in the Lifetime Financial Planning process we will advise on the most effective use of it. We are experts at researching the market for the most favourable terms on your ARF for years to come.