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.

Taxation of Pension Death Benefits

A detailed look at the new rules regarding the taxation of pension death benefits


Barnett Waddingham SIPP benefit options

This briefing note details the options and flexibilities available with our SIPP