Jargon Buster

Key pension terms and their meanings

Pensions and retirement can be an alphabet soup of confusing terms at times. Do you know your S2P from your SIPP? Any idea what an open market option is? And how about trivial commutation, enhanced annuities, or the lifetime allowance? Don’t worry – if you’re not yet au fait with your DB, DC, AMC or IHT, our pensions jargon buster has the pension phrases and meanings that you need.

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