No. If you currently have a personal pension and you continue to have a personal pension until you retire in 11 years time you will be eligible to take out an ARF. This has nothing to do with the guaranteed income.
At present non-shareholding directors (employees) in company pension schemes are not eligible for ARF (apart from AVCs).
When you decide to access your pension benefits (any time from age 60 and you don't have to stop working) you get 25% of the fund tax free. The rest can either be invested in an ARF/AMRF or an annuity.
If you choose the ARF route and you have a guaranteed income of €12,500 you can invest all of the money in an ARF and access as much or as little of it, as and when you like from day one, paying your marginal rate of tax on draw down. On death the remaining fund passes to your estate.
If you do not have a guaranteed income of €12,500 you still qualify for an ARF, you just must put €63,500 into an AMRF, the captital of which must remain intact until you reach the age of 75 at which point it becomes and ARF and is fully accessible. In the menatime you may draw down any groeth over and above €63,500 that the AMRF acheives - again paying your marginal rate of tax and it too passes to your estate on death. Anything left in your pension fund, after your tax free lump sum has been taken and €63,500 has been invested in an AMRF, is invested in an ARF.
Who said pensions are complicated??