personal pension

British  

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

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Example Sentences

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

From BBC

The company’s “personal pension” product is its most intriguing, and it’s really a barely disguised version of what’s called a subscription annuity.

From New York Times

After the initial investment, buyers can increase their retirement income stream with deposits of as little as $100 a month to create what Blueprint calls "a personal pension."

From Los Angeles Times

Workers also have the option of transferring out into a personal pension scheme.

From BBC

Simpson has a personal pension in which he invested $5 million years ago, a Screen Actors Guild pension from his acting and producing days and an NFL pension, according to Scotto.

From Washington Post