No access to retirement benefits from age 50 under new proposals

SBarrett said:
I have no problem with it being taxed under CAT or taxed as income
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The only unfair element (IMO) is the way the income tax element would be applied.

I don't see why the ARF shouldn't be subject to CAT like any other inherited asset and then any drawdowns by the person inheriting the ARF could be subject to income tax with all the usual tax credits, bands, etc.
 
Sarenco said:
The only unfair element (IMO) is the way the income tax element would be applied.

I don't see why the ARF shouldn't be subject to CAT like any other inherited asset and then any drawdowns by the person inheriting the ARF could be subject to income tax with all the usual tax credits, bands, etc.
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Precedent. For 21 years, the ARF has been taxed at 30% outside of the thresholds.

Your suggestion is a lot more equitable and in line with other assets, such as inheriting a property and renting it out.

Steven
http://www.bluewaterfp.ie (www.bluewaterfp.ie)
 
walktothewater said:
I can see the logic. I question that retirement at 50 is necessarily a pipe dream. For those who are prepared to live frugally, and do not have kids, I believe it is realistic.
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Agree,,

start saving even a little early and it mounts up, plus l think there is not enough pushback against every increasing retirement ages,, all that stuff about living longer and healthier is very subjective and a lot of it guff, l am nearly fifty and could easy go part time if possible and am active enough do dont know what they expect from 70 yr olds ...
 
Ndiddy said:
How does one get a personal pension?
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You can make contributions to a Personal Pension if you are self-employed or in non-pensionable employment (i.e. in employment but not part of a pension scheme in respect of that employment.)
 
Any update on what happened to these proposals from last year? Particularly not letting you access pension funds from 50?
 
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