Uncrystallised funds pension lump sum

From 6 April 2015, funds in a money purchase scheme may be withdrawn as an uncrystallised funds pension lump sum. This is different from flexi-access drawdown, as all funds are paid at once. Twenty five percent of an uncrystallised funds pension lump sum may be paid tax-free with the remaining 75% subject to tax at the member’s marginal income tax rate.

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