Benefits payable on retirement
Approved Retirement Funds
At retirement you may have the option to transfer some or all of your retirement fund to an Approved Retirement Fund (ARF). An ARF is a post-retirement investment fund typically used by DC scheme members and PRSA holders at retirement to invest any retirement funds remaining after taking tax-free cash, as an alternative to purchasing an annuity. The funds transferred to an ARF can be drawn down in a flexible way during retirement.
Further information about ARFs, e.g., who can access them, how withdrawals are taxed and what happens on the death of an ARF holder, can be requested from an ARF provider. Alternatively, please refer to the relevant chapter of the Revenue Pensions Manual.