The Pensions Authority would like to place cookies on your computer to help us make this website better. To find out more about the cookies, see our Cookie Policy.

I accept cookies from this site You must tick the 'I accept cookies from this site' box to accept.

In order to personalise your content you must select all three options


Important life events

Retiring

The decisions you make when you are retiring will have a significant bearing on your financial security and that of your dependants. Your point of retirement is when your pension funds should be at their most valuable. You should also think back over your career to ensure that you are getting pension benefits relating to any different periods of employment.

Your options at retirement may include:

  • taking a tax-free lump sum, subject to limits set by Revenue;
  • receiving a pension (sometimes provided by an annuity);
  • transferring some or all of your retirement savings to an Approved Retirement Fund (ARF) or Approved Minimum Retirement Fund (AMRF);
  • taking a taxable lump sum; and
  • providing for dependants.

Only you can determine the right mix, but you should consider taking advice so that you fully understand the options and to help you with the decisions you make.