pension mortgage


noun

an arrangement whereby a person takes out a mortgage and pays the capital repayment instalments into a pension fund and the interest to the mortgagee. The loan is repaid out of the tax-free lump sum proceeds of the pension plan on the borrower's retirement

QUIZZES

THINK YOU’VE GOT A HANDLE ON THIS US STATE NICKNAME QUIZ?

Did you ever collect all those state quarters? Put them to good use on this quiz about curious state monikers and the facts around them.
Question 1 of 8
Mississippi’s nickname comes from the magnificent trees that grow there. What is it?
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012