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Timescales for UFPLS, PCLS & Taxable Income Payment

  • Updated

We currently offer the below income options on the platform for your clients. Here is some useful information about each withdrawal type and their timescales to help you process income for your clients.

 

UFPLS payment

  • UFPLS is processed as a single payment to the client that includes both the tax-free and taxable portion.
  • UFPLS will always pay out on one of our income dates which is the 7th, 14th, 21st & 28th of each month. 
  • The client will receive a payslip in their notifications on the date that the income payment is generated.
  • You are unable to instruct a full withdrawal of a clients account via UFPLS. 
  • UFPLS distributes the 25% tax-free cash across all withdrawals. Each withdrawal from the pension pot incurs 25% tax-free, with the remaining 75% subject to potential taxation. The MPAA is activated with the first withdrawal.

Regular UFPLS Timescales

  • For regular UFPLS payments, you will need to key on the withdrawal 6 working days before the income date. For example, your client wishes to receive their funds on the 14th October 2026. You will therefore need to set up the regular payment on the 6th October 2026 in order for it to go in time. 

Please note,  if auto-disinvestment is required to provide sufficient cash, the client may receive the withdrawal later than the intended payment date as we are reliant on fund managers to ensure the trades have settled in time.

Single UFPLS Timescales

  • For single UFPLS payments, you will need to key on the income anytime before the income kick off date.
  • For example, your client wishes for their income to be made before the 1st June. You would firstly need to check the SIPP Income dates here: 2026 SIPP payroll schedule – Söderberg & Partners Wealth Management
  • The closest income date to the 1st June is the 28th May. You would therefore need to ensure that the Income is keyed before the 20th May.

If you miss the cut off for the Income Payment, it will be processed in the next payment run. 

 

(FAD) PCLS payment

  • With PCLS (FAD), you can take 25% tax-free cash upfront, either gradually or all at once. For each £1 taken tax-free, £3 is moved to a FAD account. Withdrawals from a FAD account may be subject to tax on the entire lump sum, triggering the money purchase annual allowance (MPAA).
  • Tax-free cash payments are always paid by BACs. 
  • You are given the option to fully crystallise the account when following the client journey, the remaining crystallised funds are moved in-specie to the selected Drawdown Account.
  • To key on a PCLS where the client is not taking the full value you will need to select the 'FAD' option when keying the crystallisation. 

Single (FAD) PCLS Timescales

  • If there is sufficient cash on the account, then the PCLS payment will be processed immediately and paid by BACs. This will take 3-5 working days to reach the client. 
  • If the account is currently invested, and a sell down is required the payment will be made once the trades have settled. The total process from keying on the PCLS to the client receiving the funds can take 6-10 working days.

Regular (FAD) PCLS Timescales

  • Regular crystallisations are kicked off 6 working days before their selected payment day and will need to be keyed 7 working days before the selected payment date.
  • For example, if you wish for the payment to be made on the 7th May 2026, you will need to have keyed on the regular PCLS by 28th April 2026.

 

(FAD) PCLS payment + Taxable Income

This may also be known as a full withdrawal of the clients SIPP funds. 

The Tax Free cash element will be paid as per the normal PCLS route outlined above. 

Timescales

  • If there is sufficient cash on the account, then the PCLS payment will be processed immediately and paid by BACs. This will take 3-5 working days to reach the client. 
  • If the account is currently invested, and a sell down is required the payment will be made once the trades have settled. The total process for invested funds from keying on the PCLS to the client receiving the funds can take 6-10 working days.
  • The client will receive the taxable portion of the withdrawal 6-12 working days from keying on the instruction.

Keying it onto the system

When keying the crystillsation, you will need to select to fully crystallise the account and then 'Single Withdrawal' as shown below:

 

Taxable income payment

Both single and regular taxable income payments are made on the 7th, 14th, 21st and 28th of each month.

Timescales for Regular Income

  • For regular income payments, you will need to key on the withdrawal 6 working days before the income date. For example, your client wishes to receive their funds on the 14th October 2026. You will therefore need to set up the regular payment on the 6th October 2026 in order for it to go in time. 

Please note,  if auto-disinvestment is required to provide sufficient cash, the client may receive the withdrawal later than the intended payment date as we are reliant on fund managers to ensure the trades have settled in time.

Timescales for Single Income

  • For single income payments, you will need to key on the income anytime before the income kick off date. For example, your client wishes for their income to be made on the before the 1st June. You would need to check the SIPP Income dates here: 2026 SIPP payroll schedule – Söderberg & Partners Wealth Management

    The closest income date to the 1st June is the 28th May. You would therefore need to ensure that the Income is keyed after the 14th May but before the 20th May. The final date you can set up this payment is the 19th May.

     

  • If the client doesn’t have a preferred income date, you can enter the payment at any time. After doing so, refer to the payroll schedule to see when the client is likely to receive their income. 

     

  • If you miss the cut off for the Income Payment, it will be processed in the next payment run.