ARF - Approved Retirement Fund

Pension Terminology

Risk Level – Each fund has a risk level attached to it which is a guide on how risky the fund is. A higher number means a higher risk fund and a lower number means a lower risk fund. A higher risk fund will give you more potential for investment growth. The scale is generally 1 to 7.

Approved Retirement Fund – A type of post-retirement product also known as an ARF.

Approved Minimum Retirement Fund – A type of post-retirement product also known as an AMRF. The requirement to have an AMRF was recently abolished in the 2022 Finance Bill. Existing AMRF policies will automatically become ARF policies with effect from 01/01/2022.

What is a ARF?

An ARF gives you more control over how your retirement fund is managed. An ARF allows you to remain invested in the market with the ability to control your investment and take a flexible income in retirement.

Who can get an ARF?

The only people able to avail of this type of fund are those who have retired or are about to retire. You would normally draw your tax free cash from your pension fund at retirement, with the remaining fund being transferred to an ARF.

How does it work?

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). But it's worth remembering that since your pension fund is still invested, its value may go down as well as up.

How do I get an ARF?

ARF’s are available from most Life companies, and a broker would be able to give advice on what options are available.


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