Explore commonly used personal finance terms.
An Approved Retirement Fund (ARF) is a post-retirement financial product that allows retirees to keep their pension funds invested and withdraw money as needed, subject to certain limits. Common in some countries, ARFs offer flexibility compared to traditional annuities, where the retiree has more control over the investment strategy and withdrawal amounts. ARFs allow retirees to manage their funds more actively, potentially growing their assets, though they also carry the risk of fund depletion if withdrawals are not managed carefully.
