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personal pension

noun
1.
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.
a pension derived from such a scheme
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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