These days, the average person retiring at age 65 can expect to live for at least another 20 years or more. Making the most of these retirement years involves careful financial planning. The first part of this is choosing the right pension plan. The second part is choosing the right post-retirement options for your needs.
The following are your post-retirement options:
Approved Retirement Funds (ARF)
An ARF allows you to invest some or all of your maturing retirement fund into a variety of fund’s from leading Life Assurance companies. The ARF allows you to invest in funds which fit your investor profile and you access to your capital.
Approved Minimum Retirement Fund (AMRF)
An AMRF is similar to an ARF but has some compulsory requirements that are intended to safeguard a portion of your retirement fund. These requirements are removed on your 75th birthday because an AMRF automatically becomes an ARF.
The traditional option upon retirement was to take a tax-free lump sum from your retirement fund and purchase an Annuity with the balance. The Annuity can offer you a guaranteed regular pension income for the rest of your life. Euro Wealth Financial can offer Post-Retirement plans from leading Pension Providers. Euro Wealth Financial can provide you with information and advice about post-retirement options.