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personal pension

Line breaks: per|son¦al pen|sion

Definition of personal pension in English:

noun

A pension scheme that is independent of the contributor’s employer.
Example sentences
  • 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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