Which ARF?

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nk1nk1

Guest
Shortly I have to invest €50,000 balance after cash taken from an AVC, in an ARF. I am 55 and intend to drawdown as much as I can over the next 5 years while remaining in the lower tax band. I also have a civil service pension. Where is the best place to put this money? Do I have to use a broker? What fees would I pay? Anything else I need to know? Thanks for your help.
 
nk1nk1 said:
Do I have to use a broker?
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If you are comfortable making your own investment decisions and you know which product/provider you want to deal with, you can avail of an 'execution only' service from a discount broker.

What fees would I pay?
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For this type of service you may have to pay a once-off fee along with the annual management charge of the product provider.

Dealing directly with the product provider does not necessarily mean that you are getting a favourabe charging structure.

Anything else I need to know?
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Try and find a product that does not have exit penalties.
 
nk1nk1 said:
Shortly I have to invest €50,000 balance after cash taken from an AVC, in an ARF. I am 55 and intend to drawdown as much as I can over the next 5 years while remaining in the lower tax band. I also have a civil service pension. Where is the best place to put this money? Do I have to use a broker? What fees would I pay? Anything else I need to know? Thanks for your help.
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I will be in much the same position in 6 months' time:-

I will have roughly €50,000 in an AVC to invest in an ARF.
I will be 54 and intend to clean out the ARF over the next 6 years.
(I also have a civil service pension of €25K p/a.)

My AVC is with Cornmarket and I am loath to give them (and Irish Life) any more commission unless I must.

My question is: when I am retired will I be able to instruct Irish Life to close the AVC and send me the balance for me to invest in an ARF wherever I want to (through a discount broker) or I am 'tied' to Cornmarket and Irish Life?

In other words, how can I get control over on the balance remaining in my AVC after I retire? Do I have to use Cornmarket as my intermediary?

Thanks
 
Shirazman said:
My question is: when I am retired will I be able to instruct Irish Life to close the AVC and send me the balance for me to invest in an ARF wherever I want to (through a discount broker) or I am 'tied' to Cornmarket and Irish Life?


No, not tied to existing provider.

In other words, how can I get control over on the balance remaining in my AVC after I retire? Do I have to use Cornmarket as my intermediary?

No.
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Thanks for that, but I still need to know the answers to the "how" parts of my questions!

Can I merely instruct Irish Life what I want to do - because every time that I contact them directly, they refer my letters to Cornmarket or tell me to contact my broker.
 
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