OroTrade

Get in touch

Call or visit a branch

  • Call us: +44 777 343 212

Get up to €600 when you

open and fund an account*

See details

Retirement

Flexible retirement accounts that put you in control

We offer a variety of retirement accounts designed to meet your income and lifestyle needs. Learn about the different retirement accounts below, then open your account today.

This is the image description.
Review account types
This is the image description.
Open a new account
This is the image description.
Fund your account electronically
This is the image description.
Start pursuing your goals

Retirement Account Types

Traditional Account

A Traditional Account may give you an immediate tax benefit because contributions are often tax deductible. With a Traditional Account, up to €6,000 of tax deferred income may be placed in the Account until the account owner reaches 70½ years of age. Account owners may also contribute an additional €6,000 a year of earned income to a separate Account for a non-income-earning spouse. Account owners who are age 50 or over are allowed to contribute an additional €1,000.

Taxable distributions from an Account can be taken without penalty starting at age 59½ and must be started by April 1st of the year following the year the account owner reaches 70½.

Basic eligibility requirements

  • You must be under age 70½ by the end of the calendar year
  • You must have earned income or a spouse with qualified earned income
  • No income limits

Account Minimums and Fees:

  • There is no minimum initial deposit required to open an account
  • There are no maintenance fees for retirement accounts

 

Commissions, service fees and exception fees still apply. See our commission and brokerage fees for details.

Need help deciding between a Traditional Account or a VIP Account? Try our Selection Tool

 

Open New Account

VIP Account

A VIP Account’s tax advantages differ from the Traditional Account. If eligible for this account, your annual contribution limits are the same but are not tax deductible. However, since annual contributions have already been taxed, these contributions will never be taxed again and earnings can grow tax free. Finally, the contributed funds can be withdrawn any time you wish and there are no required minimum distributions after age 70½.

Withdrawals

Withdrawals of your contributions to a VIP Account are tax-free anytime. However, withdrawals of earnings are only free from federal income tax, provided they meet the following requirements:

  • You are purchasing your first home (€10,000 lifetime maximum)
  • The VIP Account has been in existence for at least five years
  • You are age 59½ or older
  • You become disabled or have passed away

What You Should Know About Converting Costs

You can convert a Traditional Account to a VIP Account at any time. You must note that when you convert to a VIP Account, you must pay income tax on the otherwise taxable amount of the transfer. To maximize the benefits of conversion, the money to pay those taxes should come from a source outside the Traditional Account you are converting. You may convert your Traditional Account over several years to manage the tax consequences.

Account Minimums and Fees:

  • There is no minimum initial deposit required to open an account
  • There are no maintenance fees for retirement accounts

 

Commissions, service fees and exception fees still apply. See our commission and brokerage fees for details.

Need help deciding between a Traditional Account or a VIP Account? Try our Selection Tool or view our Vip Account to find out which Account is right for you.

Open New Account

Gold Account

Consolidate your retirement savings by rolling your old 401k over into one convenient, easy-to-monitor account. Our Gold Account process is fast and hassle-free. Rolling over assets from your old employer's plan into a OroTrade Account can help you better manage your portfolio and can provide access to a broad range of investments, while maintaining the tax-deferred status of your retirement assets.

A Gold Account is designed as a holding account for funds distributed from an employer's qualified retirement plan such as a 401k or 403(b). Moving funds into a Gold Account may allow the account owner to return the funds to another employer's qualified retirement plan in the future. To initiate a direct rollover from a qualified retirement plan, please contact your plan administrator.

Rolling over your old 401k into a OroTrade Account is free and there are no setup or maintenance fees. You'll also avoid costly cash distribution penalties and taxes if you were planning to cash out your accounts.

A rollover is not your only alternative when dealing with old retirement plans. Learn more about rollover alternatives.

Account Minimums and Fees:

  • There is no minimum initial deposit required to open an account
  • There are no maintenance fees for retirement accounts

 

Commissions, service fees and exception fees still apply. See our commission and brokerage fees for details.

Need Help with Your Account Rollover?

A Chartered Retirement Planning Counselorsm can:

  • Help with the rollover process from start to finish.

Explore your options and financial effects of different choices with our Standard Account tool.

Open New Account

Check the background of OroTrade on IFMRC's BrokerCheck