Hi there
I am looking for some help.
I am a member of my employers DC pension Scheme. I have made some AVCs and I am also in the process of trying to transfer funds from another DC Scheme (UK scheme) into the current Scheme.
My questions are:
1. Can I transfer all funds in respect of AVCs to and ARF/MARF at retirement?
2/3. Must I purchase an annuity at retirment with the funds in respect of tranfer in from a UK scheme? If this is the case I would prefer to move funds into an PRSA AVC with someone external company if I can avoid having to purchase an annuity. Does anyone other than Eagle Star offer a PRSA AVC?
4. I really want to take as much TFC at retirement from employer and my matching contrbutions (Non- AVC) so I can minimise what I need to buy annuity with. Does anyone know how I can best to this?
5. More generally I don't really understand how monies at retirement in respect of AVCs, ER and EE mandatory contributions and monies in respect of other schemes are all treated at retirement for the purposes of taking TFC and purchasing annuities - any pointers here appreciated.
I plan to ask HR at work but I want to get things straight myself before I do.
Thanks for any responses.
I am looking for some help.
I am a member of my employers DC pension Scheme. I have made some AVCs and I am also in the process of trying to transfer funds from another DC Scheme (UK scheme) into the current Scheme.
My questions are:
1. Can I transfer all funds in respect of AVCs to and ARF/MARF at retirement?
2/3. Must I purchase an annuity at retirment with the funds in respect of tranfer in from a UK scheme? If this is the case I would prefer to move funds into an PRSA AVC with someone external company if I can avoid having to purchase an annuity. Does anyone other than Eagle Star offer a PRSA AVC?
4. I really want to take as much TFC at retirement from employer and my matching contrbutions (Non- AVC) so I can minimise what I need to buy annuity with. Does anyone know how I can best to this?
5. More generally I don't really understand how monies at retirement in respect of AVCs, ER and EE mandatory contributions and monies in respect of other schemes are all treated at retirement for the purposes of taking TFC and purchasing annuities - any pointers here appreciated.
I plan to ask HR at work but I want to get things straight myself before I do.
Thanks for any responses.