Options At Retirement

Now that you’re about to retire, you have one more important decision to make - how to use your pension fund to provide yourself with an income throughout your retirement.

Depending on your circumstances as you approach retirement, there are different options for you to consider.

You have the option to take a tax-free lump sum and use the balance to:

Purchase a pension (Annuity)
In certain circumstances you can invest in an Approved Retirement Fund (ARF)
In certain circumstances you can take a taxable lump sum

Annuity

No matter what type of pension plan you have, you have the option of using some (or all) of your retirement fund to purchase a pension. This will provide you with a regular secure source of income for the rest of your life.

Approved Retirement Fund (ARF)

An ARF may be an option for you on retirement.

The benefits of investing in an ARF are:

You can manage and control your retirement fund
Invest in a range of different investment funds tax-free
You can set up an ARF to pay you a regular income0
You can make withdrawals, as and when you require.
You can pass it onto your dependants