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ABI
Association of British Insurers, trade body through which insurance companies can air views on matters of common concern.

Accrual Rate
The rate at which your pension benefits build up as pensionable service is completed in a Final Salary Scheme.

Actuary
Someone qualified to consider financial issues, particularly ones involving probabilities such as life expectancy.

AER
(Annual Equivalent Rate) The interest paid from current, deposit or savings accounts. AIFA
Association of Independent Financial Advisers, industry trade body for financial advisers who are not tied agents.

AITC
Association of Investment Trust Companies, the industry trade body of investment trust companies.

Analyst
Person who studies a particular market or industry sector and gives a generic opinion as to the future value of a companies shares.

Annual volatility
A measure used to assess the risk of a portfolio.

Annuity
This is the contract you purchase from an insurance company using a lump sum of money (e.g. the proceeds of your pension fund) to guarantee you an annual income for a period of time (e.g. for ten years).

APR
(Annual Percentage Rate) The percentage you are charged over a year on the outstanding balance when you borrow money or make a purchase on credit.

Assets
Anything of value can be referred to as an asset, such as your home, jewellery or antiques. Within investments, assets are another word for investments in a unit trust portfolio.

AUTIF
The Association of Unit Trusts and Investment Funds, the industry trade body of unit trust and investment trust management companies.

AVCs (Annual Voluntary Contributions)
Extra payments you can make in addition to your main occupational pension scheme contributions to boost your retirement benefits. AVCs can be paid either to your employer's scheme or to a separate arrangement. See also FSAVCs