Pension advice

[TableEnd]

Hi can anyone advise me on a way around the 12.7k annual income you must have to draw money out of your pension, I need to access money but have lost my job so I have been told that I must put the remainer of the fund in an Approved Minimum Retirement Fund (AMRF) and the capital cannot be touched until 75 (profits can be taken out) or buy an Annuity.

I am 62 and my wife has a private pension, could her income be jointly assessed so I would therefor earn enough to access the money.

There is over 30000 in the pension they are saying that I can take 8000 now and get 75 euro per month?

Any other suggestions as to make this money work better for me

thanks for reading

 

[tenchi-fan]

No, your wife's income isn't taken into account for this calculation. There's no way around this.

 

[voodoobazza]

Go to a fee for service financial advisor who has penison expertise and pay him/her a fee to analyse this for you. On the outset if you do not have €12,700 in guaranteed income you are caught the AMRF. You could look at a perpertual bond with a high yield.

 

[Gervan]

Wouldn't the State Welfare count as €230 x 52 = €11960. If you can buy a small annuity to provide the balance is that acceptable?

 

[tenchi-fan]

Wouldn't the State Welfare count as €230 x 52 = €11960. If you can buy a small annuity to provide the balance is that acceptable?

like an annuity that provides €75 a month?