After you have taken your retirement tax free lump sum you may be able to choose between an Annuity and an Approved Retirement Fund. We help you compare the features of an ARF and an Annuity, so you can choose which option may be more suitable for your retirement plan based on your own priorities.

What is an Annuity?
An Annuity is a contract with a life insurance company that will pay you a guaranteed, regular pension income for life in return for you paying a fixed sum of money to an insurance company from your retirement fund. The income that you receive will be subject to income tax and Universal Social Charge (USC). Read more in the 'Post Retirement Guide'.

What is an Approved Retirement Fund? (ARF)
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 USC. Any money left in the fund after your death can be left to your next of kin. There are certain restrictions to investing in an ARF. Read more in the 'Post Retirement Guide'.

There are different advantages to taking out an Annuity and/or an ARF. Our 'Post Retirement Guide' will help you understand the difference between these products.

What's right for you?
Rank the following statements in order of importance to you. Your answers will help guide you on whether an ARF or an Annuity might suit you best. This tool is for information purposes only. We recommend you talk with your financial advisor on whether an ARF or Annuity is most appropriate for you.

What to do:

  1. Below are six statements about how you may feel about your retirement. Simply put them in order of importance to you, with 1 = MOST important and 6 = LEAST important.
  2. You can swap and change the statements until you are happy. Then click on the 'My Results' button for your result.

Mover icon Drag and drop the statements below to rank them in order of importance.

Read the important notes for this tool.

Important Notes

This ARF or Annuity Tool is an educational tool designed to guide you in understanding whether an ARF or an Annuity might suit you best in retirement.

It is important to note that not all retirees have the option of choosing between an ARF or an Annuity at retirement. Some may be able to choose between investing part of their retirement fund in an ARF and part in an Annuity, while others have the choice of both. Your options will depend on your personal situation and this should be discussed with your financial advisor.

The tool does not constitute advice from Zurich Life. There are a number of important issues to consider when determining if an ARF and/or an Annuity is appropriate for you, and this tool may only include some of these. It is important that you review your overall situation and retirement needs with your financial advisor prior to making a decision.

By clicking 'I Understand', you are confirming that you understand that the ARF or Annuity Tool is an educational rather than advisory tool and is not a substitute for professional advice from your financial advisor.


I want to leave a cash lump sum to my family if I die early in retirement.

I want certainty that my fund will not get used up before I (or my spouse) die.

I want to continue to leave my pension fund invested when I retire.

I want a guaranteed steady income for life.

I want to be able to access differing amounts as and when I need them rather than having a set income.

I want to remove investment risk when I retire.







As illustrated above, you have given higher average rankings to the statements which are best supported by choosing to invest your retirement fund in an which suggests that when you retire an might be more suitable for you than an .

When you're happy with your order of priority click here

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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: Benefits may be affected by changes in currency exchange rates.
Warning: The value of your investment may go down as well as up.
Warning: If you invest in these products you may lose some or all of the money you invest.
Warning: The income you get from this investment may go down as well as up.