A pension becomes 'crystallised' as soon as you withdraw a retirement income from your pension fund. A pension crystallises when you get access to your pension savings and you cash it in. The earliest you can crystallise your pension is currently at 55, unless you get early access due to ill health.
You can withdraw your crystallised pension and access your pension savings through income drawdown, by purchasing an annuity or withdrawing a 25% lump sum tax-free.
