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.

Depending on your circumstances as you approach retirement, there are different options for you to consider.

You may have the option to take a tax-free lump sum and use the balance to:

• Purchase a pension (Annuity)
• Invest in an Approved Retirement Fund (ARF)
• 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 you 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:

• You can manage and control your retirement fund
• Invest in a range of different investment funds tax-free
• 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

Where applicable after you take the tax-free lump sum, you can take the rest of your fund as a cash lump sum. You will need to pay income tax on this. 
 

Your Guide to Retirement Options Brochure
Investment Options - 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}