What you sow you reap, and this is very true when it comes to calculating how much your pension will be worth when you retire.

How much your pension is worth will depend on a number of factors such as the type of pension scheme you have signed up for, when you started saving for your retirement, how much you've managed to save, the amount your employer contributed, the investment strategy, if you have or plan to top up your pension at some stage and when you plan to retire.

It is important to regularly review the value of your pension to make sure you are on track to achieve your target pension fund. If you have a PRSA, you should receive a biannual statement detailing the current value and future value of your pension. For other pensions, you should receive an annual statement.

Can I reinvest my pension fund when I reach retirement?

You can choose to re-invest your retirement fund. This is called an ARF (Approved Retirement Fund). An ARF is a personal retirement fund where you can keep your money invested after retirement. You can withdraw from it regularly to give yourself an income, which will be subject to income tax, PRSI (up to age 66) and Universal Social Charge. Any money left in the fund after your death can be left to your next of kin.

For a full list of the ARF investment funds available from Zurich, see our Fund Guide which showcases our large range of investment options and funds to choose from, and which will help you understand what your choices are and how these funds and investments work.

The information contained herein is based on Zurich Life's understanding of current Revenue practice as at January 2024 and may change in the future.

Warning: The value of your investment may go down as well as up.
Warning: This product may be affected by changes in currency exchange rates.

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