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prb

  • 16-10-2016 2:20pm
    #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: 17,858 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: 17,858 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.


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