Cashing in a pension fund, from a buy out bond.

[EdwardPD]

It's a question I cant seem to find a answer on line to at the moment.
If I wish to take the full amount of my fund as a lump sum 250k, the first 25% up to a max of 200k is tax free, 62.5K
My question is am I compelled to put 63.5k into a AMRF, or can I take the remainder of the fund, 187.5k and pay tax at 20% rate.

Regards

 

[Sarenco]

My question is am I compelled to put 63.5k into a AMRF

Yes (assuming you are under 75 and cannot demonstrate a guaranteed income of €12,700 per annum).

 

[mtk]

It's a question I cant seem to find a answer on line to at the moment.
I take the remainder of the fund, 187.5k and pay tax at 20% rate.

Regards

Also the remainder (187.5-63.5) is taxed at marginal tax rate I believe. its not all at 20%

 

[EdwardPD]

Thanks very much for the advice.