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...