With AMRFs and ARFs you re-invest your pension and withdraw the money when you need it

Approved Retirement Funds - ARFs

With AMRFs and ARFs you re-invest your pension and withdraw the money when you need it. To take out an Approved Retirement Fund you must have a pension income of €12,700 per year. If you don’t have have this income you must invest €63,500 of your pension into an Approved Minimum Retirement Fund or buy an Annuity of equal value. When you put this money in an AMRF or an Annuity you can no longer put any remainder into an ARF.