• Home
  • Post Retirement

pensionssmall

Financial Advice when Retired?

Once you reach retirement, your earned income is replaced by the income produced by your pension fund. At this time you have a number of important decisions to make to ensure that your fund at retirement will provide you with a secure income for the rest of your life. You may be able to choose what to do with your retirement fund depending on your individual circumstances.

Approved Retirement Fund (ARF)

Whether you want the investment flexibility and / or the cost transparency of a self administered ARF or wish to pursue a traditional structure with an insurance company, we will help determine which is the most appropriate for you.

An Approved Retirement Fund ( ARF ) is a special investment fund which can give flexibility in terms of how you use your retirement fund. With an ARF you re-invest your retirement fund and take the money out as you need it. Any growth within your Approved Retirement Fund is exempt from tax.

You can make withdrawals from your ARF as needed, subject to statutory deductions (PAYE, USC and PRSI). Appropriate statutory deductions are deducted on withdrawals from your ARF by a Qualifying Fund Manager.

With effect from the 1st of January 2015 the minimum distributions from an ARF once you are over age 60 for a whole tax year are as follows:

  • 4% if you are not aged 70 years or over for the whole of the tax year and the value of your Approved Retirement Fund is less than €2,000,000;
  • 5% if you are aged 70 years or over for the whole of the tax year and the value of your Approved Retirement Fund is less than €2,000,000; and
  • 6% if the value of your Approved Retirement Fund exceeds €2,000,000.

For more information about our Self Administered Retirement Fund .

Contact Us at justask@harvestfinancial.ie or call us on 01 2375500

This material is not intended to provide advice and is provided for general information purposes only.
The information contained herein is based on Harvest Financial Services Limited’s understanding of current Revenue practice as at November 2020 and may be subject to change in the future.


Financial Markets Feb 2021

February 9, 2021
Month in Review Following on the highly eventful year for markets that was 2020, a year that culminated in a highly contentious US election and a far from smooth handover of power, many expected 2021 to be a b…

Which is better Investment Property or Shares ?

August 2, 2018
Interesting article in Tuesday’s Irish Times examining historical returns from Irish residential and commercial property investment in comparison to other asset classes. At Harvest our belief is that an allocation to …
Newsletter
Join our mailing list to keep up to date with our latest news and events
Follow us

Address:
Block 3, The Oval, Shelbourne Road, Ballsbridge, Dublin 4. Postcode: D04 T8F2.
Tel: +353 (0) 1 237 5500, Fax: +353 (0) 1 237 5555. Email: justask@harvestfinancial.ie