Post Retirement Options
When you reach retirement, your pension becomes an important source of income for the years ahead. Choosing how to use your pension fund is a key financial decision – and one that should align with your lifestyle goals, income needs and attitude to risk.
At Verity Financial Consultants, we will explain all the options available to you and help you build a plan that fits your lifestyle – now and in to the future.
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Take a Tax – Free Lump Sum
Most retirees can take a tax free lump sum of up to 25%, subject to revenue limits. After taking your tax free lump sum, you will then have two options for the balance, an annuity and/or an Approved Retirment Fund (ARF).
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An Annuity
An annuity will pay you a guaranteed income for life. An annuity is purchased from a life assurance company with the money from your pension fund. There are many different rates and options on offer and we will ensure that you have the best option available.
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Approved Retirement Fund (ARF)
An ARF lets you keep your money invested and draw an income as you need it. You have a lot of flexibility as you stay in control of your money, how it is invested and how much income you want to take.
N.B You can also blend the three options together giving you both security and control.
Our Pension Advisors will help you make the right decision for your unique needs.
