Uncrystallised funds pension lump sum (UFPLS) | Practical Law
Uncrystallised funds pension lump sum (UFPLS)
Enter to open, tab to navigate, enter to select
US Home
Global Home
NEW
Sign in
Sign in
All content
Search:
Search Westlaw
Search Tips
Advanced
Uncrystallised funds pension lump sum (UFPLS)
Practical Law UK Glossary 9-602-0846
(Approx. 4 pages)
Glossary
Uncrystallised funds pension lump sum (UFPLS)
A member of a
defined contribution
arrangement under a
registered pension scheme
may withdraw their fund as an uncrystallised funds pension lump sum (UFPLS) once they have reached
normal minimum pension age
(or if they meet the
ill-health condition
), provided this option is permitted by the scheme rules. Essentially a form of cash withdrawal introduced from 6 April 2015, the member may take one or more UFPLS and may still choose to take a
scheme pension
,
lifetime annuity
or
income withdrawal
from their remaining DC fund. (
Section 166
, Finance Act 2004
.)