When you retire you will generally have two options when it comes to your pension. Either an ARF or Annuity.
Annuity Pension is a very popular retirement choice in that it offers you complete peace of mind. An Annuity guarantees to pay you a secure income for the rest of your life, no matter how long you live. This is a very attractive option but you cannot pass any remaining fund on to your family when you die.
You have the option of choosing an Annuity that increases at a set rate each year, guarantees payment for a specific number of years or can provide a percentage of your income to your spouse after you die.
Secure IncomeAn Annuity guarantees to pay you a secure income for the rest of your life, no matter how long you live.Set RateYou have the option of choosing an Annuity that increases at a set rate each year, guarantees payment for a specific number of years.If you have a question, or would like to know more about our services, please make an enquiry through our contact form or call us for a free consultation: 08724 07995. Either way, we would love to talk with you.
An ARF gives you more control over how your retirement fund is managed. It is an investment plan with the intention of growing your fund during your retirement years based on your own investment strategy.
You can make withdrawals as and when you need to, and even use it to provide a regular income. The funds in your ARF are available to your family after your death.
The downside of an ARF is that without careful planning it is possible to drain your fund before you die. You can invest in a range of different investment funds depending on the level of risk you are comfortable with and you benefit from the tax-free growth of these funds.
GrowthYou want your retirement fund to have the potential to continue to grow.ControlYou want more control over how your fund is invested.FlexibilityYou want to pass on the balance of your fund after your death.Withdrawals You want to make withdrawals as and when you need to