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Personal income |
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Personal incomeA person's total income which includes salary, transfer payments, dividend and interest income etc.Personal incomeTotal income received from all sources, including wages, salaries, or rents, and the like.Personal income Similar MatchesPersonal pension schemePersonal pension schemeSee: 'personal pension plan'. Group personal pensionGroup personal pensionAt its simplest, this is a series of individual personal pension plans, although if an employer sets up a group plan it is more likely to make a contribution and possibly provide life assurance and other benefits as well. The GPP is not an occupational pensions scheme so the contribution and benefit limits for individual personal pensions apply. Personal pension planPersonal pension planA 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 accident insurancePersonal accident insuranceAn insurance policy which, in return for regular premiums, pays a specific sum in the event of death, loss of sight or limbs or other permanent disablement due to an accident. Personal possessionsPersonal possessionsThe personal possessions of a deceased person which pass to the beneficiary or beneficiaries of the residue of estate unless otherwise stated in the will. Further SuggestionsPersonal pensionPersonal trust personal accounts personal accident and sickness insurance general personal equity plan Personal Investment Authority additional personal allowance Personal exemption Personal tax view (of capital structure) Personalization Personal inflation rate Personal search appropriate personal pension plan Personal Property Loan Personal article floater personal equity plan personal exemption personal identification number personal loan umbrella personal liability insurance personal ledger personal allowance Umbrella personal liability policy Personal property |
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