A Tax Free Lump Sum shortfall is the difference between the Lump sum earned from your years of service at retirement age and the maximum lump sum allowed through Revenue Rules (usually 1.5 times final Salary). Your shortfall is the amount of money that can be withdrawn from your AVCs tax free.
Excess funds over this amount are however, taxable. Many AVC holders in this situation are very disappointed when they are hit with a tax bill on their AVC funds on retirement- which sometimes can be as high as 52% of the fund value.
(Calculate your Tax Free Lump Sum Shortfall here)
A Tax Free Lump Sum shortfall is the difference between the Lump sum earned from your years of service at retirement age and the maximum lump sum allowed through Revenue Rules (usually 1.5 times final Salary). Your shortfall is the amount of money that can be withdrawn from your AVCs tax free.
Excess funds over this amount are however, taxable. Many AVC holders in this situation are very disappointed when they are hit with a tax bill on their AVC funds on retirement- which sometimes can be as high as 52% of the fund value.
(Calculate your Tax Free Lump Sum Shortfall here)
In order to transfer your Group AVC Scheme to Aviva’s Personal Retirement Bond you will need
to complete a few very straight forward tasks:
The whole transfer process can take up to 8-12 weeks to be fully transferred. Please note that there is not cost or charge to your fund for transferring.
Once the funds have been transferred across from to Aviva, The AVC Bond Policy
documentation will be sent in the post to you.
You will also receive login details to Aviva’s website so that you can view/review your
AVC funds at the click of a button.
In order to transfer your Group AVC Scheme to Aviva’s Personal Retirement Bond you will need
to complete a few very straight forward tasks:
The whole transfer process can take up to 8-12 weeks to be fully transferred. Please note that there is not cost or charge to your fund for transferring.
Once the funds have been transferred across from to Aviva, The AVC Bond Policy documentation will be sent in the post to you.
You will also receive login details to Aviva’s website so that you can view/review your AVC funds at the click of a button.
© 2020 Money Maximiser | Money Maximising Advisors Limited is regulated by the Central Bank of Ireland - C154250 | Privacy Policy
© 2020 Money Maximiser | Money Maximising Advisors Limited is regulated by the Central Bank of Ireland - C154250 | Privacy Policy