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buy out bonds/arf or amrf question

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  • 22-03-2011 11:46pm
    #1
    soundsham
    Registered Users Posts: 3,848 ✭✭✭


    A friend (aged 64) has recieved a sum of money €150,00 from divorce settlement,their part of a pension.

    They have been told from someone appointed to deal with it they must put it in 1 of 2 types of thing,s an amrf/arf or a bonded buyout
    Is this correct,I'm a bit dubious.

    Sorry but I was asked my opinion of it but I'm not that well informed but I will be checking up,starting here.
    sound,


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    #2
    Kennie1
    Registered Users Posts: 302 ✭✭Kennie1


    As this is a Pension Ajustment Order your friend has no other choice but follow either of these two actions, assumeing that the PAO is comming from a Defined Pension scheme though? I would also think that there would be a tax free lump sum element as part of the above options as well.

    Why would you be dubious of the advice that he/she was given, is the person that is appointed not qualified to advise on this? If not tell your friend to go seek professional advice.


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    #3
    soundsham
    Registered Users Posts: 3,848 ✭✭✭soundsham


    ya you are correct there is the possibility of a 25% draw down tax free,thanks
    I'm always dubious or suspect of someone telling me you must do x with your money......just my way and yes I advised a seond opinion from a qualified person


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