Aged 50 or over? Consider your retirement fund options now
If you haven’t yet thought about what to do with your retirement fund, here’s some advice
Whether you opt for an approved retirement fund (ARF) or an annuity might also be a factor of how much of a tax-free lump sum you can get
If you’re 50 years or over, and haven’t yet started to think about what you’re going to do with your retirement fund when you become a pensioner, it’s time to knuckle down and consider your options.
At present, if you’re currently enrolled in a defined contribution (DC) scheme, your two big options heading into retirement are going to be either an annuity, or an approved retirement fund (ARF). But both are very different, and both require different planning strategies in the years leading up to retirement.