cONAN,
thanks for the info.
However, in the case that I'm familiar with (PS pension + AVC + PRSA-AVC), the AVC broker Cornmarket didn't suggest the third option.
The second AVC was not drawn down at retirement, waited for 1-2 years, at that stage the Eagle Star / Zurich staff mentioned something like:
"the Revenue don't like all benfits not being taken at retirement"
I felt there was pressure to convert the PRSA-AVC into an ARF.
Indeed, Eagle Star seemed a bit surprised that the PRSA-AVC hadn't been converted / transferred to an ARF at retirement.