Options at Retirement

Now that you’re about to retire, you have one more important decision to make. That is, how to use your pension fund to provide yourself with an income throughout your retirement.

On reaching retirement age you have a number of options as to how you access your accumulated pension fund(s).

Subject to certain limits, you have the option of taking a tax-free lump sum and using the balance to:

• Purchase a pension (Annuity)
• Invest in an Approved Retirement Fund (ARF) provided you meet certain criteria
• Take a taxable lump sum

   

Annuity

No matter what type of pension plan you have, you may have the option of using some (or all) of your retirement fund to purchase a pension. This can provide you with a regular secure source of income for the rest of your life.

Approved Retirement Fund (ARF)
 

An ARF may be an option for you on retirement.
 

The benefits of investing in an ARF are:

• Invest in a range of different investment funds with tax-free growth
• You can set up an ARF to pay you a regular income
• You can make withdrawals, as and when you require.
• You can pass it onto your dependants

   

Taxable Lump Sum

If you take a tax free lump sum, in certain circumstances you may be able to take the rest of your fund as a taxable lump sum. You will need to pay income tax on the taxable part*. 
 

Investment Options - Qtr 3 Performance, Asset & Equity Splits

 

 

_{Terms and conditions apply. Not all of the options listed above may be available in all circumstances you need to check the rules of your particular pension arrangement.}