Finding the world of pensions a confusing one? Here’s our handy guide to some common acronyms associated with pensions in Ireland. 

So, whether you’re just starting your career, contemplating additional contributions, or actively planning your retirement, this guide will arm you with the knowledge needed to make informed decisions about your financial future. Let’s take a look at some acronyms…

PRSA: Personal Retirement Savings Account

AVC: Additional Voluntary Contribution

AMRF: Approved Minimum Retirement Fund

SIPP: Self-Invested Personal Pension

RAC: Retirement Annuity Contract

DB: Defined Benefit

DC: Defined Contribution

NRA: Normal Retirement Age

GTD:    Guaranteed

ARF: Approved Retirement Fund

CPI: Consumer Price Index

BCE: Benefit Crystallization Event

Did you find this guide useful? If you are beginning to think about your retirement or pension and need some extra support, check out our recent blogs here or contact our friendly team in Kilbeggan for a chat