trackdaychamp
Registered User
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I'm just wondering what would happen to the contents of SSAP if the owner were to die before retirement? I'm 38 and have one property in SSAP worth around €250k and one low cost equity tracker worth about €400k plus cash of about €50k. I already have a death in service policy paid for by my own limited company, which will pay 4x my salary directly to my estate/spouse, if this is relevant.
Would the beneficiary (my spouse) receive all the assets from SSAP intact via the estate or is it true that the assets have to be liquidated to cash first? If Revenue requires that the assets must be sold then I would worry about timing, what if market happened to tank at the wrong time and spouse is forced to realise lower values. Is purchase of an annuity an absolute requirement? I know that current interest rates make annuities quite unattractive. I would be 100% going for an ARF when retirement comes so is there any way spouse can dodge annuity?
Sorry if this is a silly question and thanks in advance for any responses. If you need more info to answer question properly then please shout
Would the beneficiary (my spouse) receive all the assets from SSAP intact via the estate or is it true that the assets have to be liquidated to cash first? If Revenue requires that the assets must be sold then I would worry about timing, what if market happened to tank at the wrong time and spouse is forced to realise lower values. Is purchase of an annuity an absolute requirement? I know that current interest rates make annuities quite unattractive. I would be 100% going for an ARF when retirement comes so is there any way spouse can dodge annuity?
Sorry if this is a silly question and thanks in advance for any responses. If you need more info to answer question properly then please shout
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