NO MATTER WHO YOUR PENSION IS WITH
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WITH THE REMAINING BALANCE OF YOUR FUND, YOU CAN CHOOSE ONE OR A MIX OF FOUR OPTIONS:
INVEST SOME OF IT
You may be able to keep investing your pension fund in a variety of ways after you retire.
Investment options include;
GET AN INCOME FOR LIFE
With this option you purchase a pension for life, otherwise knows as an annuity. A pension for life is a regular income paid to you for the rest of your life. The regular amount paid to you depends on the annuity rates at the time you purchase. You will have to pay income tax at your highest rate along with any other taxes and government levies due at the time.
A MIXTURE OF FLEXIBILITY AND CERTAINTY
With this option you have the opportunity to invest some of your pension fund and also purchase a pension for life.
TAKE AS TAXED LUMP SUM
Depending on the type of plan you have, after you take your retirement lump sum, you may be able to take out the rest of your fund in one go. You will have to pay income tax at your highest rate along with any other taxes and government levies due at the time.
TALK TO YOUR FINANCIAL BROKER OR ADVISOR
IF YOU DON'T HAVE A FINANCIAL BROKER OR ADVISOR, YOU CAN
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Irish Life Financial Services Limited is regulated by the Central Bank of Ireland.
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