Retirement Planning – Post Retirement
Choices available will include:
- A tax free lump sum
- A taxable lump sum
- An income (pension) for your lifetime – also known as an annuity
- An income (pension) for your dependents on your death in retirement
- Investing in an Approved Retirement Fund (ARF) and/or Approved Minimum Retirement Fund (AMRF)
The retirement option that is right for you will depend on many factors including:
- Your age
- The size of your retirement fund
- The level of income you and your spouse / civil partner / dependents will need during your retirement years
- The amount of other assets, apart from your retirement fund, that you have to fall back on
- Whether investment growth or security is more important to you during your retirement years
- Whether you wish to pass your retirement fund on to your dependents
- Your current state of health
- Which employment category you fall into and the type of pension plans you currently hold
Did you know?
State Pension is currently only €248 per week. The current age at which you will receive the State Pension is 66, and is likely to be pushed out.
