Guidance on deferral of annuity purchase

Wednesday 17 December 2010: The Minister for Finance, Mr Brian Lenihan TD, announced recently that he is to provide an option for members of defined contribution occupational pension schemes, to defer the purchase of a retirement annuity with their pension funds for a specified two year period. Under current arrangements, members of defined contribution occupational pension schemes are, in general, obliged to purchase an annuity immediately on retirement with the remainder of their pension fund after taking their tax-free lump sum.

A copy of 'Guidance on Deferral Of Annuity Purchase' is available under 'Related Documents'.