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personal pension

British

noun

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
a pension derived from such a scheme

"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

Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

Sir Steve Webb, partner at consultancy LCP, estimated that about 800,000 higher or additional rate taxpayers could be missing out on extra tax relief by failing to declare a personal pension or other "relief at source" scheme.

From BBC

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

From BBC

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

From BBC

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

From BBC

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

From BBC

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023