Pension plan


 

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Pension plan

An investment plan which can provide a lump sum on and an income after retirement. A pension plan is sometimes used as a way of providing a lump sum to repay the capital of an interest only mortgage.

Pension plan

See 'personal pension plan'.

Pension plan

A fund that is established for the payment of retirement benefits.



Pension plan

Similar Matches

Pension reversion

Pension reversion

Termination of an overfunded defined benefit pension plan and ../../finance-glossary/ment of it with a life insurance company-sponsored fixed annuity plan.


Contingent pension liability

Contingent pension liability

Under ERISA, a firm is liable to its pension plan participants for up to 39% of the net worth of the firm.


Personal pension scheme

Personal pension scheme

See: 'personal pension plan'.


Personal pension plan

Personal pension plan

A savings scheme introduced by the government in 1985 to enable the self employed, and employees working for companies not operating a group pension scheme, to build up a pension fund for retirement.PPPs are money purchase schemes and effectively replace what was known as a retirement annuity contract (RAC).Contributions to PPPs receive full tax relief up to maximum given percentages of net earnings for a range of ages.Life assurance may be purchased with up to 5% of net relevant earnings which will receive full tax relief. This percentage is included within the maximum contributions allowable.An employer may contribute to a person's PPP but this is not obligatory.Personal pensions can move with individuals when they change jobs.A PPP may be used to contract out of S2P.


Personal pension

Personal pension

A structured personal savings and investment plan to provide for your financial needs after you retire. You can use some or all of the proceeds from a personal pension to pay off an interest-only mortgage. You will need to arrange life assurance separately to a personal pension.


Further Suggestions

Underfunded pension plan
State Second Pension
flexible pension
Unfunded pension plan
occupational pension scheme
pension mortgage
Master pension plan
pension forecast
Pensions Compensation Board
Occupational Pensions Regulatory Authority
unfunded pension plan
Advance funded pension plan
pension credit
basic state pension
Salary Reduction Simplified Employee Pension Plan (SARSEP)
Pension mortgage
company pension scheme
executive pension plan
Simplified Employee Pension (SEP) plan
group personal pension
Pension sponsors
Pension liabilities
National Insurance Pension (State Pension)
appropriate personal pension plan
equivalent pension benefit


 
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