PAYE - (Pay As You Earn)
Where income tax and National Insurance contributions are collected from your salary, before it is paid to you, by your employer and passed to the Inland Revenue.
A service provided by the Department of Work and Pensions which tells you what your state pension is worth.
An independent arbitrator for pension disputes with statutory power to enforce his or her decisions.
Personal Pension Scheme
A pension scheme for those who are self-employed, or, if employed, are not members of an occupational scheme and so make their own pension provision.
The facility to use small amounts of your pension fund to buy annuities as and when you need income, rather than buying one annuity at retirement with your whole pension fund.
PHI - (Permanent Health Insurance)
Insurance that pays a level of income in the event of long term sickness or disability
PLC - (Public Limited Company)
Any company with a share capital of at least a statutory minimum.
PMI - (Private Medical Insurance)
Insurance which will pay for the cost of medical treatment in accordance with the policy cover.
A collection of shares owned by an investor.
Price/Earnings Ratio - Calculated by dividing the market price of a company's ordinary shares by its earning-per-share figure as an indicator of the company's performance potential.
Qualifying (life policy)
A type of insurance policy that can have tax benefits.
Most UK funds are grouped into sectors and each sector is divided into four quartiles with the best performing funds being in the top quartile.
The amount by which the value of your investment increases.
New shares sold by a company to raise capital.
Refers to the fact that the value of your savings and investments can fall as well as rise.
RPI - Retail Price Index
The official measure of inflation calculated by weighting the costs of goods and services to approximate a typical family spending pattern.