An Approved Minimum Retirement Fund (AMRF), is a proportion of an individuals pension pot that under certain circumstances may have to be purchased with a proportion of your pension fund. Similar to an ARF in that a fund or range of funds in which to invest is chosen, but they key difference is that a client only has access to the capital portion of the funds when the sooner of:
- Their guaranteed income at retirement is above €12,700 per annum, or
- The reach the age of 75, whereby the AMRF converts into an ARF from which withdrawals can be made. Recent amendments to legislation has resulted in access to a maximum of 4% of fund value per annum if required.