My understanding is that if I access the lump sum at age 50, I will need to put it in an ARF / AMRF. What other pre-retirement vehicles can I put it into ?Is the decision really all that different to working out what pre-retirement vehicle to hold the €200k if you don’t ‘ARF’ it?
My understanding is that if I access the lump sum at age 50, I will need to put it in an ARF / AMRF. What other pre-retirement vehicles can I put it into ?
No.So I can just transfer the balance to my existing scheme ? Didn't realise that- might be the way to go to avoid ongoing ARF costs.
So I can just transfer the balance to my existing scheme ? Didn't realise that- might be the way to go to avoid ongoing ARF costs.
Many thanks Dave, good to have a benchmark of what to expectAvoid going to the banks as all banks can only sell you the ARF products of one provider and can't offer you any choice. Similarly tied agents or going directly to the pension companies. You don't get a better deal by going directly to the pension companies. A good broker can show you the difference between all the products. Make sure you ask how much the broker is going to be paid early on, so that you know that the broker is not going to try to steer you into a product that pays him more. For the amount you're looking at, you should get 100% investment and an annual charge of no more than 0.75%, perhaps less.
Fund choice is personal to you. No single fund or company is better than others for all people. The job of a broker is to explain the differences between the funds and establish which one is right for you. Ask around trusted friends, family members, colleagues to get a personal recommendation of a good broker. Like any profession, there's good and bad brokers out there. Alternatively, there's a few good ones that post on here.
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