Cut through the jargon and complexity with our comprehensive guide to some of the most frequently used terms relating to financial markets, investing and managing personal wealth.
There are 6 ways you can take your defined contribution pension pot. You don’t have to start taking money from your pension pot when you reach your ‘selected retirement age’.
The way you take your pension will affect how you can leave it to your beneficiary (the person who inherits it) when you die.
Most pension options allow anyone to inherit your pension – they don’t have to be your spouse or civil partner.
Escalation is defined as changes in the cost or price of specific goods or services in a given economy over a period. Escalation is usually calculated by examining the changes in price index measures for a good or service.
Flexi-access drawdown: Using your pension pot for a flexible retirement income. With flexi-access drawdown, when you come to take your pension you reinvest your pot into funds designed to provide you with a regular retirement income.
A formal assurance (typically in writing) that certain conditions will be fulfilled, especially that a product will be repaired or replaced if not of a specified quality.
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