My situation is as follows:-
Male public servant aged 56. Have just retired under the ISER. Have a PS pension of some €25K p/a (so I won't need a AMRF).
Also have an AVC (Union Group Scheme through Cornmarket) with Irish Life, current value €70,000.
Will be able to draw down €20K lump sum tax-free from AVC, leaving me with a balance of €50K to invest in an ARF.
Don't want to pay Cornmarket any more commission as they've already bled me through the AVC.
My questions:
Can I: 1. encash the AVC myself and
2. purchase an ARF through a discount broker.
or am I tied to Cornmarket for these transactions.
(Because it's clear to me
from this link, that Cornmarket will only bleed me again when it comes to the ARF.)
Thanks for any help/advice.