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personal pension
(redirected from Personal pension scheme)

   Also found in: Wikipedia 0.01 sec.
personal pension
n
1. (Government, Politics & Diplomacy) a private pension scheme in which an individual contributes part of his or her salary to a financial institution, which invests it so that a lump sum is available on retirement; this is then used to purchase an annuity
2. (Government, Politics & Diplomacy) a pension derived from such a scheme


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People with personal pension schemes will now have to substantially increase their contributions if they want an adequate income when they retire.
8bn increased 17% compared with a strong period a year earlier, reflecting a further sign of the shift towards group personal pension schemes and thanks also to a large scheme win.
With access to a database of more than 200,000 occupational and personal pension schemes, it can provide individuals with contact details for their lost pension schemes.
 
 
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