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Guest
I have a query in relation to the options available for a personal pension plan that I would really appreciate some help on.
My father has a small Personal Pension Plan, he is age 60 so he is going to take his pension now. He's going to take the 25% tax free cash and he wants to take the remainder of it in cash and pay tax on it.
His pension provider has said that he can only take it as taxable cash if he satisfies a minimum income requirement of €19,000pa or if he already has a AMRF and ARF.
From everything I have read I think he is able to take it as taxable cash without having to satify the requirement outlined above. I would really appreciate your help one way or the other on this.
My father has a small Personal Pension Plan, he is age 60 so he is going to take his pension now. He's going to take the 25% tax free cash and he wants to take the remainder of it in cash and pay tax on it.
His pension provider has said that he can only take it as taxable cash if he satisfies a minimum income requirement of €19,000pa or if he already has a AMRF and ARF.
From everything I have read I think he is able to take it as taxable cash without having to satify the requirement outlined above. I would really appreciate your help one way or the other on this.