The Minister for Finance has announced a policy change so that the holders of a Buy-out Bond whose funds originate from a defined benefit (DB) scheme, will now have access to the Approved Retirement Fund (ARF) option. This change takes effect from 22 June 2016. The ARF option is an alternative to annuity purchase and can offer more flexibility and choice of investments to members post their normal retirement age. The Minister has requested the Revenue Commissioners to make any necessary administrative changes to reflect this policy change. It remains the case that the ARF option is not available in respect of the main benefits paid from a DB scheme.
Contributed by: Ciara McLoughlin & Jane Barrett
