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Pension questions

Argo foc yourself · 2023-01-20 16:24:01

Lots of thoughts and questions on pensions.... Both my wife and I have private pensions with New Ireland through work with AVCs. I understand that we get the tax benefit now when putting into the pension. But what about in years to come when we retire we are taxed on taking it out? I know the lumpsum is tax free. But does…

20-01-2023 5:24pm

#1

Argo foc yourself

Registered Users Posts: 273 ✭✭

Join Date: September 2013

Posts: 185

Lots of thoughts and questions on pensions....
Both my wife and I have private pensions with New Ireland through work with AVCs.
I understand that we get the tax benefit now when putting into the pension. But what about in years to come when we retire we are taxed on taking it out? I know the lumpsum is tax free. But does the government not just get you regardless ?
On the details of the pension, are there certain things I need to check with the provider to ensure my family inherits all if I die before the retirement age?
Also when I am retired and have drawn down X amount and die say age 70, how do I guarantee my family will inherit the rest?

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Comments

#2 22-01-2023 11:18pm

Geuze

Registered Users, Registered Users 2 Posts: 13,595 ✭✭✭✭

Join Date: July 2010

Posts: 13445

Pensions are taxed as normal income.

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#3 22-01-2023 11:19pm

Geuze

Registered Users, Registered Users 2 Posts: 13,595 ✭✭✭✭

Join Date: July 2010

Posts: 13445

Post-retirement, if you have funds in an ARF, this is what happens if you die:
https://www.harvestfinancial.ie/what-happens-to-an-arf-on-death/

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