Entry from British & World English dictionary
Definition of personal pension in English:
A pension scheme that is independent of the contributor’s employer.
- Until stakeholder pensions came along, personal pensions were horrible.
- I took out a personal pension scheme in a managed fund two years ago and contributed about €8,000 to it.
- Members of personal pensions and stakeholder schemes can also normally take up to 25% of their fund tax-free.
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