年金 jargon like DB vs DC, UFPLS and '利益 crystallisation' baffles savers: We decode 14 条件 to help you enjoy a richer 退職
Decoding 年金 条件: Are you keen to use 年金 freedoms but mystified by the jargon?
Are you still saving or getting ready to draw your 年金, but mystified by the jargon 伴う／関わるd??
Just what on earth do 'UFPLS', 'decumulation', 'MPAA' or 'flexi-接近 drawdown' mean - and why should you have to learn all this stuff just to get your 手渡すs on your own 退職 貯金.
研究 has shown that while savers heartily welcomed 年金 freedoms 開始する，打ち上げるd in April 2015, they feel baffled and 圧倒するd when 取引，協定ing with the new choices opened up to over-55s of spending, saving and 投資するing their 退職 マリファナ.?
Savers feel 圧力 to use new 年金 freedoms すぐに when the best course of 活動／戦闘 is often to do nothing with their money for now, 特に if they have 攻撃する，衝突する 55 but are still working or don't need extra cash at that 行う／開催する／段階.
And a big つまずくing 封鎖する is the 普及した 欠如（する） of understanding of 財政上の jargon?- from 'annuity' to 'ごくわずかの 税金 率' to even more outlandish 条件 - which people either have to learn from scratch, or 危険 squandering their wealth.
FIND AN EXPLANATION OF 'UFPLS' AND OTHER HORROR JARGON BELOW?
?So what does 'UFPLS' and other horror jargon mean?
This is Money decodes some of the jargon, from the more commonplace to the exotic, that you might come across wh en 調査するing your 年金 選択s.
Defined 出資／貢献 年金: Also known as 'money 購入（する）' 年金s, these 計画／陰謀s take 出資／貢献s from both you and your 雇用者 and 投資する them to 供給する a マリファナ of money at 退職. Individual savers 耐える the 投資 危険s.
Defined 利益 年金: The description favoured by the 産業 for a 伝統的な final salary 年金 計画／陰謀. These 供給する a 保証（人）d income after 退職, which is インフレーション linked (this is いつかs 支配する to a cap) and usually continue 支払う／賃金ing out to spouses after you die.
Often referred to as 'gold-plated' 予定 to their generosity compared with stingier and riskier defined 出資／貢献 計画／陰謀s, they have mostly died out in the 私的な 部門 but are still often 利用できる to those working in the public 部門.
年金 freedoms aren't open to people in these 計画／陰謀s unless they move their money どこかよそで, but it is not 普通は advantageous to do so.?
Annuity:?An 保険 製品 that 供給するs a 保証（人）d income for life. They are 人気がない and 広範囲にわたって 非難するd for 存在 制限する and 申し込む／申し出ing poor value, but 利益／興味 率 rises mean annuities have become more attractive again.
However, many people don't shop around for the best 取引，協定, or 誤った buy unsuitable 製品s that don't take account of their health or 供給する for their spouse after death.?
Sales 急落するd after savers were given new 選択s に引き続いて 年金 freedom, but are now starting to creep up again.?
高めるd annuity:?A type of annuity which 供給するs a higher 保証（人）d income if you are in poor health.?
共同の life annuity:?Another 見解／翻訳／版 that 供給するs a partner with 現在進行中の income if the annuity 支えるもの／所有者 dies first.
If you buy a 選び出す／独身 not a 共同の life annuity there will be nothing for your spouse if you die first, so you should consider what they will have to live on and discuss it with them before making a 決定／判定勝ち（する）.
Many 未亡人s and widowers discover their partner's annuity choice has left them with no income after their bereavement, 軍隊ing them to live on meagre 明言する／公表する 利益s.
Level annuity: Not インフレーション linked.?If you are healthy the best 率s are on 選び出す／独身 life, 'level' annuities, but the 現在の cost of living 危機 最高潮の場面s how important it is to get some 保護 against rising prices.
Annuity '保証（人） period': This 保護するs against the loss of all or most of your 購入（する） money if you die すぐに after buying an annuity.?
ごくわずかの 税金 率: This is whatever 税金 禁止（する）d you are 押し進めるd into once all incom e, 含むing 撤退s from your 年金, has been counted.
As with working age people, those above 退職 age have a personal allowance, which is the 量 of income 許すd before 税金 is payable.
On anything above that, you are 税金d at 20 per cent, 40 per cent or 45 per cent, depending on the size of your income. Read about 現在の 税金 率s and allowances here.
Income drawdown: A 退職 income 計画／陰謀 which 許すs you to take sums out of your 年金 マリファナ while the 残り／休憩（する） remains 投資するd in 在庫／株s, 政府 and 法人組織の／企業の 社債s, and other 資産s.
Only 豊富な people were 許すd to use them before 年金 freedom, but they are now far more popular although they can be 複雑にするd and 伴う／関わる taking 投資 危険s in your old age.
Read our 12-step starters' guide to 投資するing your 年金 and living off it in 退職.??
UFPLS: It stands for 'uncrystallised 基金s 年金 lump sum', which doesn't make things any clearer. It is also, just to make it more 混乱させるing, いつかs referred to as 'uncrystallised 年金 基金s lump sum'.
It's truly horrific 公式の／役人 jargon for 退職 貯金 sitting in a 年金 計画／陰謀 and not yet used to buy an annuity or 投資するd in an income drawdown 計画／陰謀.
Savers with 投資s in defined 出資／貢献 年金s are not 限られた／立憲的な to just one chance to take a 税金-解放する／自由な lump sum 価値（がある） 25 per cent of their マリファナs - instead they can 利益 from untaxed chunks over 多重の 撤退s.
However, if you want to do this you should beware tying up your entire マリファナ in an annuity or income drawdown 計画／陰謀.
To take your 25 per cent in 漸進的な chunks, you therefore need to 確実にする that the 本体，大部分／ばら積みの of your 年金 cash remains in an 'uncrystallised' 協定, with either your 現在の 年金 provider or anywhere else that you 移転 it.
Taking a 税金-解放する／自由な sum from your 年金 マリファナ upfront is a popular perk at 退職, but it might be 価値（がある） 可決する・採択するing 延期するing 策略 in 現在の volatile markets, and taking it more slowly as 述べるd above.
This 戦略 gives you the chance to 避ける locking in 最近の 財政上の market losses, wait for your 投資s to 回復する, and if your マリファナ grows again have more 税金-解放する／自由な cash 利用できる to take in the longer run.
Decumulation: When you save for 退職 you 蓄積する money. After you start spending your 貯金 in 退職 you decumulate your money. Decumulation also 言及するs to the 過程 of 変えるing a 年金 基金 into an income 目的（とする）d at seeing you through 退職.
利益 crystallisation event: You take a lump sum from your 年金, buy an annuity, 移転 your 貯金 to an income drawdown 計画／陰謀, move them to an overseas 年金 計画／陰謀, or die before the age of 75.
Confounded? You're not alone as a string of 熟考する／考慮するs show the 大多数 of savers are baffled by 年金 jargon when they retire
This one is likely to 落ちる out of use, now the taxman no longer needs to check up on whether you have used up your 'lifetime allowance' or LTA.
This?£1,073,100 限界 on how much you can save into a 年金 without 税金 告発（する），告訴（する）／料金s 存在 徴収するd was 廃止するd from April 2023. The 年次の allowance still 適用するs but has been raised to £60,000.
Flexi-接近 drawdown: This means 身を引くing sums from your 年金 マリファナ while the 残り／休憩（する） remains 投資するd. You can 身を引く an 制限のない 量, even the whole lot.
The 'flexi' bit also 言及するs to the fact you can take 異なるing sums each time, and do it on an 不規律な basis. Some people find this more convenient than always taking the same 量, or making 正規の／正選手 撤退s.
Beware that your 年金 計画／陰謀 or income drawdown provider might 課す extra 告発（する），告訴（する）／料金s if you want to take 最大限 advantage of their 'flexi-接近' 選択s.
変化させるing the タイミング and 量 of 撤退s can also help with 税金 planning if you are worried about 存在 押し進めるd into a higher 税金 bracket. The 税金 支配するs explained above under 'UFPLS' 適用する here.
Once you start making 撤退s, your '年次の allowance' - the £60,000 最大限 you can save into a 年金 in a year without 税金 存在 徴収するd - will 減少（する） to £10,000.
MPAA: This stands for Money 購入（する） 年次の Allowance, and 言及するs to the 減ずるd 年次の allowance of £10,000 explained just above,?which kicks in after you start 製図／抽選 anything beyond your 25 per cent lump sum from your 年金.
