An Approved Retirement Fund (ARF) is a personal retirement fund that allows you to continue investing after you retire. With an ARF you manage and control your retirement fund and can invest in a wide range of different investment options. You can withdraw from it regularly to give yourself an income, on which you pay income tax, PRSI and Universal Social Charge (USC). Any money left in the fund after your death can be left to your next of kin.
An Approved Retirement Fund (ARF) is classified as an asset and therefore subject to investment returns hence it is advisable to seek professional advice with regard to managing it.
Approved Retirement Funds are available to self-employed, directors and Additional Voluntary Contributions from occupational pension schemes.
For more information on Approved Retirement Funds please contact us.