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So you now need to have a min guaranteed income of 18,000 to unlock your pension fund and not the 12,700 of yesteryear or else have 119,000 invested in a AMRF
So just to clarify if you cannot meet the income requirement of 18,000 you can purchase an AMRF or an annuity, the choice is yours. As you said you can invest your pension fund in a high rate deposit and get a gross return of 5%p.a. before charges, which is not too far from current annuity rates.
Your correct! Your a wasted talent, perhaps you should be doing her jobI had a discussion with a broker recently who said that you really only need a pension of €6,000 p.a. to meet the ARF rule. Her point was that the revenue would allow for the future state pension when assessing the entitlement to an AVC. So if you retire at 60 with a pension of €6K, revenue will allow you to have an ARF as you will be entitled to a guaranteed SW pension of €12K at 66-68 years of age. This seems highly unlikely to me. I thought the retiree had to be in receipt of a guaranteed income of €18K when retiring. Can anyone clarify?
Your correct! Your a wasted talent, perhaps you should be doing her job
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