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ARFs - Approved Retirement Funds

An ARF gives you more control over how your retirement fund is managed. An ARF allows you to remain invested in the market with the ability to control your investment and take a flexible income in retirement. 

An ARF works by allowing you to invest all or part of your pension fund after you retire. You can decide on the type of fund you would like to invest in, and the amount of risk you're comfortable with. With an ARF you can still withdraw from your fund on a regular or ad hoc basis (subject to income tax and USC. PRSI may also apply). But it's worth remembering that since your pension fund is still invested, its value may go down as well as up.

To set up an ARF you must have a guaranteed pension income of at least €12,700 per annum or have invested €63,500 in an Approved Minimum Retirement Fund (AMRF) and/or Annuity. This minimum requirement for an ARF is the current Revenue limit and may change in future.

Who can set up an ITC ARF?

The following pension investors may avail of the ARF option at retirement:

• Personal Pension Plan investors (investors who have a pension policy with a life company);
• Personal Retirement Savings Account (PRSA) investors;
• Members of Small Self-Administered Schemes;
• Members of employer-sponsored pension schemes who have made Additional Voluntary Contributions (AVC);
• Members of employer-sponsored Defined Contribution pension schemes, subject to the terms of the scheme; and
• Holders of Buy-Out Bonds.

With so many different plans and options available, we all need some help making the decision that's right for us. Thankfully, you're not alone our financial advisors, are here to help.

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