The uncrystallised funds pension lump sum (UFPLS) was introduced by the Taxation of Pensions Act as part of the government’s policy of flexible money purchase benefits. It allows the member to take lump sums directly from a money purchase fund without the necessity of establishing a flexi-access drawdown plan. The facility has been available since 6 April 2015. Particular features of the option are:

It is paid in respect of uncrystallised rights and only from a money purchase arrangement.

It must not represent rights attributable to a disqualifying pension credit (a consequence of divorce where no pension commencement lump sum is available).

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