Definition of personal pension in English:

personal pension

noun

  • A pension scheme that is independent of the contributor's employer.

    • ‘I have money in an NHS pension and in a personal pension with an insurance company.’
    • ‘No, you can leave it by choosing to take out an occupational pension or personal pension.’
    • ‘But if you want more control over your pension savings you have to set up a self-invested personal pension, which can be costly - and daunting.’
    • ‘You can ask your ex-employer to transfer the value of your benefits into another company scheme or a personal pension.’
    • ‘Members of personal pensions and stakeholder schemes can also normally take up to 25% of their fund tax-free.’
    • ‘This could, in theory, either be an occupational scheme or a personal pension or stakeholder plan.’
    • ‘As your employer does not provide a pension scheme, you must set up a personal pension plan.’
    • ‘You shouldn't be offered a personal pension if a cheaper stakeholder is better suited to your needs.’
    • ‘Estimates apply to both personal pensions and executive pensions.’
    • ‘I took out a personal pension scheme in a managed fund two years ago and contributed about €8,000 to it.’
    • ‘The self-employed can also use a personal pension to fund a pension mortgage; the tax advantages are very significant.’
    • ‘It appears that, in any one year, only 1% of people with personal pensions switch them to a new provider.’
    • ‘Contract-based schemes such as group personal pensions offer more choice, with between 20 and 70 funds.’
    • ‘It is not possible to transfer money from a personal pension into an occupational pension scheme if you join one later.’
    • ‘They are intended as an alternative to personal pensions for those without access to company pension schemes.’
    • ‘This is grim news for its 2.3 million policyholders with mortgage endowments, personal pensions and with-profits bonds.’
    • ‘Many cannot afford to buy into a personal pension scheme.’
    • ‘Currently there are no such standards in either personal pensions plans or occupational pension schemes, according to the Board.’
    • ‘Transfer my schemes into a personal pension that I control.’
    • ‘Until stakeholder pensions came along, personal pensions were horrible.’
    annuity, superannuation
    View synonyms