Specified Income

J

JEON50

Registered User
Messages
237
Revenue have a 12,700 minimium "Specific Income" before they allow you transfer the balance of your pension into a ARF, otherwise it must go into an ARMF, which can not be accesed until age of 75, I am 51, and receive 11688 PA in my owm right on disabitily allowance, spouse or dependent allowance is not eligible. Can anybody advise if other SW allowances qualify as "Specific Income" as far as Revenue is concerned. Is there any other way to make up the difference of Euro 1012 PA
 
Any income to be counted towards the €12,700 must be guaranteed to be payable for the rest of your life.

You could buy an annuity. If you are male, an annuity to provide you with a guaranteed income of €1,012 per annum would cost around €22,000+.
 
Is the €11,688 p.a. guaranteed for life, or is it means tested? Could it ba taken away from you for any reason?
 
You must log in or register to reply here.
Back
Top