Help & FAQs

Glossary

  • Personal pension

    A tax-efficient way to accumulate savings for retirement. Contributions into a pension fund receive tax relief and a proportion of the eventual payout can be taken tax free from age 50. The remainder must be used (either on retirement or by age 77) to buy an annuity to provide income for the rest of the investor's life. Personal pensions can be either individual arrangements, or provided by an employer (known as Group Personal Pensions) although unlike an occupational pension there is no requirement for the employer to contribute.

Risk Warning

The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Selftrade does not provide investment advice. If you are in any doubt as to the risk or suitability of an investment or product you should seek advice from an independent financial adviser.

The extent and value of any ISA tax advantages or benefits will vary according to the individual's circumstances. The levels and bases of taxation may also change.

The extent and value of any SIPP tax advantages or benefits will vary according to the individual's circumstances. The levels and bases of taxation may also change. If your options change regarding an employer's pension scheme you may wish to review your financial situation. Once in a pension your money is only accessible, in general, from age 55.

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