C
- A lump sum of money.
- The tax payable on profit made on the
sale of assets or property other than your home.
- An increase in the value of shares or
other assets in a fund.
- A mortgage product where
the payment you make each month covers the capital and interest
on your loan.
- Facility for members of personal pension schemes
to have their contribution, or part of it, treated as being paid
in the preceding tax year.
- The facility for members of personal pension
schemes to carry forward any unused tax relief from any of the
six years prior to the year in which the contribution was to be
paid. Carry forward of unused relief was abolished in April 2001.
- Stands for (reasonable) Charges or Cost,
(easy) Access and (fair) Terms and is a mark awarded by the Government
to ISAs and mortgages which meet these standards.
- The means by which independent financial advisers
or salespeople are paid by an insurance company for placing business
with them.
- The process by which you can elect
to stay in or opt out of the State Earnings Related Pension Scheme
(SERPS).
- A form of investment offered by a corporation
with the purpose of raising capital, in which the lump sum is repaid
with interest at maturity. Corporate bonds can be bought and sold
on the stock market.
- Applies only to limited liability companies
and is chargeable on the company's profits.
- Pays a lump sum if you are
found to suffer from one of a range of designated illnesses (normally
including cancer, heart attack, and stroke among others). When
a condition requires you to stop working for some time, worries
are eased. So, normal practice is to have enough insurance to cover
the mortgage, plus provide a year or two's income if your savings
or other insurance will not provide. The policy usually pays out
after surviving 28 days after diagnosis
D
- The pension and lump
sum paid to the deceased member's spouse and/or other dependants
where death occurs after retirement or after the member's normal
retirement date if s/he is retiring late.
- The pension and lump sum paid
to the deceased member's spouse and/or other dependants where death
occurs while still working for his/her employer, before his/her
normal retirement date.
- Operates like a credit card except that the
normal amount is deducted directly from your bank account so that
no debt is accrued.
- An agreement in a deed to transfer income
from one person to another in a tax efficient way.
- Also known as a Final Salary Scheme.
This is the traditional form of company or occupational pension
where your pension is calculated as a proportion of your salary
in the last few years of work - with the proportion depending upon
how many years you have been in your company scheme.
- Also known as a Money Purchase
Scheme. A scheme where the amount of a member's retirement benefits
depends on the contributions paid into the scheme in respect of
the member. The rate of the contributions is decided by the employer.
- Payments made to investors of income generated
by an investment fund.
- The distribution to shareholders of a company's
profits in proportion to the number of shares held.
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