An ARF is a flexible arrangement that allows you to remain invested in funds after retirement and withdraw money as and when you wish. It is important to note that if high levels of withdrawals are made relative to any investment growth achieved there is a risk that the money invested in your ARF could run out.
Any money remaining in your ARF when you die is passed on to your estate.
You can use the money in your ARF to purchase an annuity at any time.