500k pension

thebourke · 2022-03-11 17:45:33

if you had a pension of 500k Take the first 25% tax free (125k) Then the balance of 375k How much per year would you get after that if you were retiring at 65?

11-03-2022 05:45PM

#1

thebourke

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if you had a pension of 500k
Take the first 25% tax free (125k)

Then the balance of 375k
How much per year would you get after that if you were retiring at 65?

0

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#2 11-03-2022 06:07PM

Atlantic Dawn

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GDY151

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Ballpark €14k a year before tax.
There's a handy calculator here...
https://www.pensionplanetinteractive.ie/ppi/public/pensionChoicePersonalDetails.action

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#3 12-03-2022 09:46AM

Henry Ford III

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Or do an ARF.

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#4 12-03-2022 10:49AM

KevinK

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https://www.boards.ie/discussion/2058236929/500k-pension

As the posters above have said you could do an annuity (a guaranteed fixed amount for life) or put it in an ARF - people usually take 4% per year from an ARF - but this can continue to grow.
Both would provide around 14k per year at current rates.
Also don't forget about the state pension of about 12k on top of that

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