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  • adj

Synonyms for uncrystallised

not finally or definitely formed

without real or apparent crystalline form

References in periodicals archive ?
AS announced by the Chancellor George Osborne last September, from April 6, 2015, individuals will have the freedom to pass on their unused defined contribution (DC) pension savings to any nominated beneficiary when they die, and the current 55% tax charge that applies to lump sums paid from drawdown funds (when death occurs both before and after age 75) and uncrystallised funds (when death occurs after age 75) will be abolished.
An easy target especially as asset values have increased over the last 10-plus years and many people are sitting on large uncrystallised gains.
A It seems strange that your provider or plan can facilitate an uncrystallised fund pension lump sum transaction - where you take all the money - but cannot offer a drawdown facility where you take your tax-free cash and the rest stays invested.
Last, but not least, any lump sum death benefits paid from a personal pension are currently free of IHT, and on death before age 75 any lump sum paid from an uncrystallised personal pension would be wholly tax free as long as the amount paid falls within the deceased members available lifetime allowance.
What is the main difference between Flexi-Access drawdown (FAD) and Uncrystallised Fund Pension Lump Sum (UFPLS)?
For retirees overall, the most popular pension arrangement (34 per cent) is the uncrystallised funds pension lump sum (UFPLS) method, which allows savers to take chunks of their money while the rest remains within the pension, and therefore sheltered from tax.
Flexi-access drawdown, openmarket option and the horrid uncrystallised funds pensions lump sum (UFPLS) are some of the terms most people don't understand.
Of these, 60,600 (34 per cent) used uncrystallised fund pension lump sums (UFPLS), both partial and full withdrawals; 54,604 (30 per cent) used income drawdown, both partial and full withdrawals; 40,401 (23 per cent) were full withdrawals using small pot lump sum payments; and just 23,385 (13 per cent) were used to purchase an annuity, albeit some people want absolute security, knowing the money will come in month on month however long they live, so a significant market for annuities will remain.
The new rules allows one's pension fund, whether crystallised, or uncrystallised, to be passed to their beneficiaries with no further reduction to tax.
However, if your remaining fund is either in drawdown or uncrystallised (you haven't taken from it), then you can.
FAD is a flexi access drawdown and an UFPLS is an uncrystallised funds pension lump sum.
A If your pension fund is uncrystallised and you haven't taken any benefits, it is unlikely that an income payment would be granted.
This applies irrespective of whether the pension plan is in an uncrystallised or crystallised format, the latter meaning the portion of the fund from which someone is taking benefits.