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Personal Pension Options

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Retirement Lump Sum

With a personal pension you can take a retirement lump sum of up to 25% of your fund.

The Rest Of Your Fund

If you have no other pension benefits and the total value of all your pension benefits, after taking your retirement lump sum payment, is less than €20,000, you may be eligible to take the balance of your fund as a once-off taxable payment. This is called the Trivial Option. For more information regarding this option, please speak to your financial adviser. The other options available to you depend on whether you have a guaranteed pension income for life of at least €12,700 a year.

Will you have a guaranteed pension income for life of €12,700 when you retire?

NO”

YES”

Buy a pension for life

Buy a pension for life

Or

Or

Invest the first €63,500 in an AMRF or use to buy a pension for life and invest the rest in an ARF, taking withdrawals as you want

Invest in an ARF
(taking withdrawals as you want)

Or

Or

Invest the first €63,500 in an AMRF or use to buy a pension for life and take the rest as taxable cash

Take as a taxable cash sum

You will have to pay income tax at your highest rate, USC, PRSI (if applicable) and any taxes or government levies on any pension income you receive or withdrawals from an ARF or AMRF.

These limits may change in the future.

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