Because you own the ARF, you can leave it to your dependents when you die. This can include the State Pension.
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Learn more about ARFs. Learn more about AMRFs. We strongly recommend that you talk to your Financial Broker when you are making decisions about your retirement benefits. Text Size: Aa , Aa , Aa. Annuities and ARFs. You can use the rest of your retirement fund to buy either: an annuity — a pension for life an Approved Retirement Fund ARF — an ongoing investment If you have more than one pension plan, you may be able to opt for a combination of an annuity and ARF.
Here is our guide to annuities and ARFs to provide you with the main points for each option. Annuity or ARF. What is it? What affects my level of income?
Is there a minimum fund requirement? What tax will I have to pay? When does it run out? What happens when I die?
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What are my options at retirement? At what age can I take my retirement funds? Repetition Rate 4, Hz Pulse Energy About Gigaphoton Gigaphoton Inc. Since then, Gigaphoton has been developing and marketing user-friendly, highly innovative laser light sources to make a great contribution to lithography technology to meet the stringent requirements of the ultra-fine circuit patterns required for the Gigabit era, and delivering them to major lithography tool suppliers in the global semiconductor industry.
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Gigaphoton has already grown to dominate the Asian market including Japan with a large number of installed bases of most of major semiconductor device manufacturers in this region as the No. The company name and logo are the trademarks of Gigaphoton, Inc. The content of this release may be changed without prior notice. For more information please see your product booklet or speak to your financial adviser. To find out whether you have the option at retirement to invest in an ARF please talk to your financial adviser. If you can choose between buying a pension for life called an annuity and an ARF, it is important to weigh up the pros and cons of both, and consider your own personal circumstances, now and in the future, before you make a final decision.
By investing in an ARF, your money can remain invested in funds that offer growth potential.
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The level of this growth obviously will depend on what fund you wish to invest in, its performance and what level of withdrawals you make. This can amount to significant growth over time. If you leave the funds to your spouse or civil partner, the funds can be transferred to an Approved Retirement Fund in their name. In all other cases, the funds are wound up and the proceeds are passed to your estate. If your estate has to pay income tax, we must take this before paying the proceeds of your fund to your estate.
Your tax adviser will be able to advise you on the Capital Acquisition Tax Inheritance Tax implications which may apply also. Many people who choose to invest in an ARF have already secured a satisfactory income in retirement quite often an annuity. You can also choose to convert your ARF fund into an annuity at any stage. By waiting to buy an annuity you might be able to get a higher annuity rate later on for the same lump sum, as you will be older, but there is no guarantee for this. If you wish to withdraw money regularly from your ARF to boost your retirement income, you have the flexibility to do so.
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People at typical pension levels who withdraw regularly have the option of taking just enough to keep them on the lower rate of tax. This is very attractive if you received tax relief on your contributions at the higher rate but only pay tax on the benefits at the lower rate. The ARF holder is then obliged to claim back any over deducted tax by applying to their own local Inspector of Taxes. You need to consider carefully if you are going to use your ARF to pay you an income.
Depending on the size of your fund there will be an imputed drawdown from your fund every year. If the ARF grows at a lower rate than the level of imputed drawdown or income you take, then the value of the ARF may run out and leave you with no income. The amounts quoted are correct as at October Depending on which fund you invest in, its value can fall as well as rise over the period of your investment.
We recommend that you consider an ARF as an investment for at least five years or more. In general, the longer you leave your investment, the better it is likely to perform.
By choosing a low-risk fund, you are protecting any gains you make over the period of investment. However, the potential for large gains is lower than if you choose a high-risk fund. High-risk funds mainly invest in company shares so their value is not protected but you do have the potential to gain significantly, especially over the long term.