Shortly I have to invest €50,000 balance after cash taken from an AVC, in an ARF. I am 55 and intend to drawdown as much as I can over the next 5 years while remaining in the lower tax band. I also have a civil service pension. Where is the best place to put this money? Do I have to use a broker? What fees would I pay? Anything else I need to know? Thanks for your help.
If you are comfortable making your own investment decisions and you know which product/provider you want to deal with, you can avail of an 'execution only' service from a discount broker.
Shortly I have to invest €50,000 balance after cash taken from an AVC, in an ARF. I am 55 and intend to drawdown as much as I can over the next 5 years while remaining in the lower tax band. I also have a civil service pension. Where is the best place to put this money? Do I have to use a broker? What fees would I pay? Anything else I need to know? Thanks for your help.
I will be in much the same position in 6 months' time:-
I will have roughly €50,000 in an AVC to invest in an ARF.
I will be 54 and intend to clean out the ARF over the next 6 years.
(I also have a civil service pension of €25K p/a.)
My AVC is with Cornmarket and I am loath to give them (and Irish Life) any more commission unless I must.
My question is: when I am retired will I be able to instruct Irish Life to close the AVC and send me the balance for me to invest in an ARF wherever I want to (through a discount broker) or I am 'tied' to Cornmarket and Irish Life?
In other words, how can I get control over on the balance remaining in my AVC after I retire? Do I have to use Cornmarket as my intermediary?
My question is: when I am retired will I be able to instruct Irish Life to close the AVC and send me the balance for me to invest in an ARF wherever I want to (through a discount broker) or I am 'tied' to Cornmarket and Irish Life?
No, not tied to existing provider.
In other words, how can I get control over on the balance remaining in my AVC after I retire? Do I have to use Cornmarket as my intermediary?
Thanks for that, but I still need to know the answers to the "how" parts of my questions!
Can I merely instruct Irish Life what I want to do - because every time that I contact them directly, they refer my letters to Cornmarket or tell me to contact my broker.