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

Example Sentences

As he is self-employed, Andrew has set up a self-invested personal pension.

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Guerra was particularly concerned by a new law that López Obrador has passed that seizes unclaimed personal pension accounts to hand out to other retirees.

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Under the French system, very few people have personal pension plans linked to capital investments.

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She said her personal pension was not enough to live on.

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Also set out some ideas for a new leader to boost home ownership by unlocking part of personal pension plans.

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