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Pensions/ARFs

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Pensions/ARFs

Starting a pension plan is one of the smartest decisions you can make. It could help ensure a brighter, better future to look forward to. When you’re choosing a pension, having all the information you need is key. So we’re here to help you select one that’s right for you.

An ARF gives you more control over how your retirement fund is managed. An ARF is an investment plan with the intention of growing your fund during your retirement years based on your own investment strategy.

An ARF works by allowing you to invest all or part of your pension fund after you retire. You can decide on the type of fund you would like to invest in, and the amount of risk you’re comfortable with. With an ARF you can still withdraw from your fund on a regular or ad hoc basis (subject to income tax and USC. PRSI may also apply). It’s worth remembering that since your pension fund is still invested, its value may go down as well as up.

PRSA Options

Personal Retirement Savings Accounts (PRSAs) offer a flexible and tailored approach to retirement planning, catering to individuals without access to company pension schemes( Employee’s )or Business owners / Company Directors or those seeking greater control over their retirement savings plans, With PRSAs, you have the flexibility to adjust your contributions and choose from a diverse range of investment options to suit your financial goals and risk tolerance.

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Personal Pension

A personal pension is a retirement savings plan in which you make contributions either on a regular basis or a once off or a combination of the two, offering a tax efficient way to save for your retirement. These contributions are then invested, for example in the stock market, or a managed to fund with a Life Assurance company.

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Personal Retirement Bonds (PRBs)

A personal retirement bond (PRB), commonly referred to as a ‘buy-out bond’, functions as an individual pension arrangement tailored to accommodate transfer payments from occupational pension schemes. This makes PRBs an attractive option for individuals transitioning between jobs, seeking to consolidate their pensions from former employers’ schemes or retiring an old pension plan.

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Company/Executive Pensions

Are you self-employed, own your own business, or limited company? As a busy Business owner/ Director Or self-employed person, it’s easy to put pension planning to the back of your mind, but failing to set up your own pension plan can leave you in a precarious financial position come retirement.

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10 Great Reasons to Start Your Pension Now

Planning for retirement is a journey that demands foresight and careful consideration. In today’s dynamic economic landscape, securing your financial future requires proactive steps, and one of the most fundamental decisions you can make is to start a pension.

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ARFs

Once retirement arrives you will be able to choose what to do with your retirement package depending on your individual circumstances. One of the options available to you may be an Approved Minimum Retirement Fund (AMRF) or an Approved Retirement Fund (ARF).

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