Personal pension

A plan you take out on your own and not linked to your employer. Personal pensions usually offer a wider range of investment choices than a stakeholder pension to potentially boost performance. Charges are often higher than a stakeholder or workplace pension plan.

See also: Annual Management Charge (AMC)Total Expense Ratio (TER), Automatic enrolment, Pension Tracing Service, Self invested personal pension (SIPP), Stakeholder pension

Follow retiresavvy and get all the latest articles