At MDL Financial Consultants, we understand that retirement is a milestone in your life. At this time, you will have important financial decisions to make regarding your pensions and how it can be best used to meet you and your family’s needs in the future.
Many people will have a number of pensions including: Personal Pensions, Personal Retirement Savings Accounts (PRSAs), Occupational Pensions, Executive Pensions, Additional Voluntary Contributions (AVCs), and Buy-Out (Personal Retirement) Bonds. These pensions may be with a number of different pension companies and banks.
By contacting us in MDL Financial Consultants, you have the comfort of knowing that you are dealing with experienced, professional and qualified staff. We offer impartial advice, helping you understand what options are available and ensuring that you choose the most appropriate option to meet your personal circumstances and the type of pension plan(s) you have.
Before deciding which options suit you, it is important to consider:
- Your health,
- Your eligibility for State Pension,
- Your existing mortgages/loans,
- Your dependants,
- Other sources of income in your retirement.
Generally, there are four retirement options available to you
1. Tax-Free Cash Lump Sum,
The balance can be used to :
2. To Purchase An Annuity,
3. To Purchase or invest an Approved Minimum Retirement Fund/Approved Retirement Fund(AMRF/ARF),
4. Take as Taxable Cash Lump Sum.