Take Control of Your Retirement Income
An Approved Retirement Fund (ARF) is a tax efficient post retirement investment fund. It puts you in control of your pension assets and retirement income.
What are the Benefits of an Approved Retirement Fund ?
- You have flexibility and control over your pension fund.
- You can invest in a wide range of assets, with the potential for your pension fund to continue growing.
- You can choose the level of income you want to take each year from an ARF, subject to a minimum annual withdrawal.
- When you die, your residual fund passes to your Estate.
- The decision to buy an ARF is reversible ie at a later date an ARF can be used to purchase an annuity ie an income paid by an insurance company . The decision to purchase an annuity is not reversible.
Who can set up an Approved Retirement Fund ?
- If you are a member of an employer sponsored defined contribution pension scheme or
- You hold your pension benefits in a Personal Retirement Bond (PRB) (including benefits that have been transferred from a Defined Benefit (DB) scheme) or
- You are a member of an employer-sponsored pension scheme and have made Additional Voluntary Contributions (AVCs) or
- You have a Personal Retirement Savings Account or
- You have a Personal Pension Plan.
Why Chose Harvest for your Approved Retirement Fund?
- You want a competitive and transparent charging structure.
- You want an investment portfolio designed around your need and long term objectives.
- You want a clear picture of the retirement income from your pension.
- We were awarded Pensions Broker of the Year 2015, 2016, 2017 & 2018 at the Irish Pensions Awards.
- Investment Broker of the Year 2018 at LPI Awards.
What is a Self Administered ARF
A Harvest Self Administered ARF offers the following benefits:
- You have control over where your funds are invested. You can invest in – Direct property and Property syndicates, REITS, International Funds, Direct Shares, Bank deposits and more.
- You have a competitive and transparent charging structure.
- Your investment portfolio is designed around your needs and long term objectives.
- You have a clear picture of the retirement income you can expect from your pension.
To find out more about our self administered ARF, and a clear picture of what retirement income your pension will provide you, contact us at justask@harvestfinancial.ie or on 01 2375500.
What happens to my ARF if I die?
On your death your ARF can be transferred to your spouse / civil partner tax-free who can continue to manage the ARF investments and take withdrawals.
Alternatively your ARF can be left to your children or other persons subject to income and / or inheritance tax which are summarised below.
| ARF Inherited by…… | Income Tax Due | Capital Acquisitions Tax Due |
| Surviving Spouse | None, where transferred into an ARF of surviving spouse. Yes, if not transferred to ARF to survivor’s spouse. This will be treated as a taxable distribution by the deceased in the year of his/her death. | None |
| Child aged 21+ at date of death | Yes. Income Tax at rate of 30% | None |
| Child aged less than 21 at date of death | None | Yes, normal inheritance tax rules apply. |
| Anyone else (not surviving spouse or children) | Yes. This will be treated as a taxable distribution by the deceased in year of his/her death. | Yes, normal inheritance tax rules apply. |
Call us on 01 2375500 or email justask@harvestfinancial.ie
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Harvest Financial Services Limited is owned by ILGWM Limited (a subsidiary of Irish Life Group), which is part of the Great-West Lifeco Group of companies.
Harvest Financial Services Limited is regulated by the Central Bank of Ireland. Registered in Ireland No.137567.
Registered Office: Block 3, The Oval, Shelbourne Road, Ballsbridge, Dublin 4. Postcode: D04 T8F2
