Jargon Buster

The world of financial services and pensions is often filled with complex jargon and “business-speak”. This tool provides plain-English explanations of jargon to make technical language clear and accessible to every audience.

For IFGL Pensions Customers only

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U
Uncrystallised
Refers to any pension savings you haven’t accessed yet. When you start drawing income or taking a lump sum, funds move from being uncrystallised to crystallised.
Uncrystallised funds pension lump sum (UFPLS)
A way of taking part or all of your pension fund as a single payment. The first 25% is usually tax-free but you’ll pay tax on the remaining 75% at your marginal rate of income tax.
Unit Fund
Funds such as unit trusts, are split into units of ownership. If you buy into an investment fund, you will by units in the fund. Other types of funds with different structures are split into shares.


Is there jargon we use that you don’t fully understand? Please email us at info@ifglpensions.com and we will add the word to our Jargon Buster.