You can draw down only a maximum of 4 per cent a year from an AMRF whereas with an ARF you can make a once-off withdrawal of 20 per cent.
The big change signalled in the Finance Bill is the abolition of the approved minimum retirement fund. First introduced in 1999, its aim is to provide a sort of backstop pension fund for those choosing to invest their retirement savings in an approved retirement fund. Photograph: iStock
It's past time to do something about the pension perks of politicians bring them inlíne with the real world a bit.