To set up an Approved Retirement Fund you must have a guaranteed pension income of at least €12,700 per annum or have invested €63,500 in an Approved Minimum Retirement Fund (AMRF) and/or Annuity.
Similar to an ARF an AMRF is an investment fund which is personally owned by you. It has the following features:
Any investment growth achieved can be accessed at any time and this is subject to taxation.
An AMRF becomes an ARF on the individual reaching age 75 or earlier death.
An AMRF also becomes an ARF on the individual satisfying the minimum guaranteed income requirement.