Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

prb

  • 16-10-2016 3:20pm
    #1
    mosii
    Registered Users, Registered Users 2 Posts: 332 ✭✭


    Hi I can now take some retirement money from PRB,Personal Retirement Bond when I open it in 2 weeks,I now have a choice
    1. Tax free lump sum based on your salary and years service and purchase an annuity with the remainder - this is to be €11,000 plus €456 annuity or I could take the following if I put in PRB
    2. Tax free lump sum of 25% fund value and the remainder in an AMRF - you can take 4% of the the value each year - €7,750. 4% works out at €930 a year but this will vary based on fund performance.

    can any one tell me how long does it take to open a PRB,and then take the 25 % out straight away.Is it better to go to The PRB and take the risk on 3300,which is the difference,new to this so sorry if confusing.Thanks


Comments

  • #2
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,725 Mod ✭✭✭✭Henry Ford III


    This isn't an area for advice over the net imho.

    To move funds from a scheme to a PRB and out into cash and AMRF will take several weeks at best.

    Be very careful on costs and charges. You'll only be in the PRB for days.


  • #3
    mosii
    Registered Users, Registered Users 2 Posts: 332 ✭✭mosii


    Thanks for you advice,i am still undecided,i am wondering would a bird in the hand be worth 2 in the bush.I presume if world markets went down,my fund would go down quickly and could be worth nothing,so thanks again.


  • #4
    Henry Ford III
    Moderators, Business & Finance Moderators Posts: 17,725 Mod ✭✭✭✭Henry Ford III


    mosii wrote: »
    Thanks for you advice,i am still undecided,i am wondering would a bird in the hand be worth 2 in the bush.I presume if world markets went down,my fund would go down quickly and could be worth nothing,so thanks again.


    No problem.

    A professional can help you/advise you in relation to risk and reward, and make some recommendations based on your individual circumstances.

    AMRF and an annuity can be like chalk and cheese - utterly different.


Advertisement