ARF/AMRF still have different accounts

[Grueler]

When AMRF accounts were done away with I thought everything went into the ARF, but I notice when I log on to the Zurich site
they are still treated as separate accounts, is this right, or does it even matter?

 

[ClubMan]

Approved minimum retirement fund (AMRF)

www.pensionsauthority.ie

From 1 January 2022, the AMRF requirement was abolished and all AMRFs became ARFs with effect from that date.

 

[Grueler]

Approved minimum retirement fund (AMRF)

www.pensionsauthority.ie

Thanks Clubman, yes I knew the AMRF requirement was gone, I just expected both accounts would merge into one ARF. I suppose it doesn't
make any difference. I am just checking a few things out before I speak to my advisor, I am not too happy with the performance but I probably know where my focus should be. There are 8 funds in both accounts and each one has an AMC of 1.25%, the.25% being a trailing charge for the advisor.

 

[LDFerguson]

The ARF providers chose to leave the same policies open but from 1/1/2022 AMRFs became ARFs. So you now have two ARFs. Assuming that you are only being charged the 1.25% annual charge and no fixed fees per policy, then it doesn't make any difference to you. (€100,000 x 1.25%) + (€65,000 x 1.25%) = €165,000 x 1.25%.