Sunday Independent (Ireland) - Business & Appointments - - FRONT PAGE -

AM due to re­tire shortly and I have over €360,000 in a Com­plete So­lu­tions Per­sonal Plan with Ir­ish Life. My wife and I will have a com­bined in­come of over €1,000 per week from other pen­sions. My con­cern is, what I should do with the money left in that €360,000 pen­sion fund af­ter I take the tax-free lump sum? If I agree to have any bal­ance left in the pen­sion fund (af­ter the tax-free lump sum is drawn down) paid as an an­nual pen­sion over the com­ing years, I as­sume that I will be taxed at the top rate of tax on that pen­sion, as it would be in ad­di­tion to other pen­sion in­come which I have? So I am con­sid­er­ing draw­ing down the full €360,000 as a lump sum in­stead, as I fig­ure that I would face a less oner­ous tax While we will en­deav­our to place your ques­tions with the most ap­pro­pri­ate ex­pert for your query, this col­umn is not in­tended to re­place pro­fes­sional ad­vice.

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