personal pension scheme
21pension — A specified sum paid regularly to a person who has reached a certain age or retired from employment. It is normally paid from the date of reaching the specified age or the retirement date until death. A widow may also receive a pension from the… …
22Personal Accounts — are a proposed new pension system for all workers in the United Kingdom that do not already have a suitable company pension scheme. They will be a simple, universally available, defined contribution pension scheme, accumulating a fund of money… …
23pension-sharing order — Introduced by the Welfare Reform and Pensions Act 1999, pension sharing orders apply to occupational pension schemes and personal pension schemes. The member s pension rights are valued as a cash equivalent, and part of their value is used for… …
24personal accounts — A new trust based defined contribution occupational pension scheme (defined contribution plan), to be introduced in 2012. Eligible employees will be automatically enrolled, with the choice to opt out, and employers will be required to pay minimum …
25Pension provision in the United Kingdom — UK Pension Provision falls into seven major divisions; Basic State Pension, State Second Pension (S2P), Occupational Pensions, Stakeholder Pensions, Group Personal Pensions and Personal or Individual Pensions. Personal Accounts automatic… …
26Pension — This article is about the retirement income arrangement. For the type of lodging, see Pension (lodging). For the mortgage repayment scheme, see Mortgage loan. Financial market participants …
27pension — ▪ I. pension pen‧sion 1 [ˈpenʆn] noun [countable] FINANCE an amount of money paid regularly by a government, company, or financial institution to someone who is officially considered to be too old or too ill to earn money by working; =… …
28pension — pen|sion1 W2S3 [ˈpenʃən] n an amount of money paid regularly by the government or company to someone who does not work any more, for example because they have reached the age when people stop working or because they are ill ▪ At what age can you… …
29State Second Pension — On 6 April 2002, the Labour Government introduced the State Second Pension, or S2P to provide a more generous pension provision for UK workers. The main aim of this change was to enhance existing Additional Pension (or AP ) benefits for low and… …
30stakeholder pension — A money purchase scheme designed to provide retirement benefits, mainly for employees or the self employed. It must be registered with the Pensions Regulator. If an employer with five or more employees does not provide an occupational pension… …
