Flexible benefits

From 6 April 2015 new pension benefit options bring greater flexibility over how pension savers can take their pension benefits.

• Uncrystallised Fund Pension Lump Sum (UFPLS)
• Flexi-Access Drawdown (FAD)

These options are available through our SIPPs. We have also introduced other changes to improve flexibility – exactly what ‘freedom and choice in pensions’ (in the words of The Chancellor) is all about.

• two payment dates per month for regular payroll
• ad hoc payments on demand
• shorter processing times (to set up or change payments)

Other changes from 6 April 2015 increase the inheritability of defined contribution pensions such as SIPPs, making it easier to pass pensions down the generations in a tax-efficient manner.