Pension and Retirement Plans | Financial Life

My Retirement Benefits

Congratulations on approaching your retirement! Now you are probably wondering what your options are and how best to access your pension. Our financial advisors are experts in retirement options and will help you get the best out of your pension. Put your feet up and let your pension work for you.

On retirement, you will be entitled to a tax-free lump from your pension fund. For the fund that is left after the tax-free lump sum has been taken, there are several options you can choose-

Receive a guaranteed income for life in retirement by purchasing an annuity.

OR

Transfer the remaining fund value into an Approved Retirement Fund or an Approved Minimum Retirement Fund.

There are some instances where your fund balance can be taken as taxable cash.

There are advantages and disadvantages with any option you decide to choose, so it is vital you receive expert advice. We will compare the different options for you after getting to understand your needs. You can then make an informed decision on which option works best for you. To find out more, you can call us on 01 582 3548 or email us at info@financiallife.ie and we will be happy to help.