When you access your pension savings, these will normally become ‘crystallised.’ Any of your pension pot that hasn’t been crystallised will be uncrystallised.

There are several ways of taking your pension savings. More often than not, if you’ve taken money from your savings, they’ll be crystallised. Additionally, where you have the option to take only part of your pension savings, the money that you don’t take will normally remain uncrystallised.

The People’s Pension doesn’t accept crystallised transfers in. If you’re wanting to transfer into us, make sure your pension savings are uncrystallised.

You can transfer crystallised funds between other schemes, but they must be transferred on a like-for-like basis. For example, if you’re transferring a drawdown, it would need to be transferred to another drawdown. You can normally also use your crystallised drawdown funds to purchase a lifetime annuity.