The intermediary/sales remuneration if I were to set up an AMRF/ARF is 5.5% which is painful so would like to try to avoid it - €6,600 is a huge percentage to just hand over in year one.
Thanks in advance for any help on this.
Hi All,Yes, you can trigger your tax free lump sum and the remainder will then remain in the PRSA (vested) without the need for an ARF/AMRF.
kevin
www.thepensionstore.ie
Hi All,
Thank you so much for all your replies. I have been with Zurich since 2004 and am horrified that in order to transfer to an AMRF/ARF would incur such a cost, it's obscene and the sooner the government change the rules regarding AMRF/ARF the better. The fact that I had the sense to save for the future I believe I should have the freedom to access these monies without having to incur excessive charges.
Am I right in thinking that if after taking the tax free lump sum and staying in the vested PRSA that if I want to draw down more monies that I will then have to set up an AMRF ( I will not have enough income to meet the income requirement of €12,700).
Thanks again in advance.
The fact that I had the sense to save for the future I believe I should have the freedom to access these monies without having to incur excessive charges.
Am I right in thinking that if after taking the tax free lump sum and staying in the vested PRSA that if I want to draw down more monies that I will then have to set up an AMRF ( I will not have enough income to meet the income requirement of €12,700).
Thanks LDYou do. You have the freedom to go to any provider you like and to any intermediary you like and you can access an AMRF and ARF at a much lower cost than what you've been quoted.
If you stay with a Vested PRSA, then Zurich Life can segregate the first €63,500 of the Vested PRSA which will be treated like an AMRF and the balance will be treated as an ARF.
That’s just Zurich telling you what the broker has chosen to be paid.
No, it's not.
That's a page from the Customer Guide with a Generic Disclosure.
That may not be the level of commission chosen by the intermediary. AFAIK, Zurich Life don't have a 5.5% initial/up front commission contract.
Gerard
www.prsa.ie
One more question, can you take out 15% tax free and then take another 10% at a later date from a vested PRSA or does the 25% have to be taken at the one time. Thanks in advance.
Thank you, only one dip into the honey potYou can only take the lump sum - up to 25% maximum - at the one time.
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