Can I summarise the findings here in relation to funding for an enhanced public sector pension and tell me if I am wrong?
I will have full service, 40yrs, at my retirement age, 60. Therefore I will receive a pension of 50% and a lump sum of 150%. However, I can take out a PRSA and benefit from the tax relief at 42%. If I do and the fund grows to, say, €200k over the next 15 yrs - I can only draw down 7.2% of final salary from that fund each year - the rest remains in an ARF? Is this so? what if I want to take a lump sum from the fund which would be way over the 66.6% - what repercussions would that have for me?
Slim