a private pension scheme in which an individual contributes part of his or her salary to a financial institution, which invests it so that a lump sum is available on retirement; this is then used to purchase an annuity
2.
a pension derived from such a scheme
Examples of 'personal pension' in a sentence
personal pension
This includes most higher-rate taxpayers paying into a personal or group personal pension.
Times, Sunday Times (2007)
It could be either a group stakeholder scheme or a traditional personal pension.
Times, Sunday Times (2006)
The charge for its self-invested personal pension will rise from 162 to 186.
Times, Sunday Times (2014)
I have a self-invested personal pension which is looked after by my financial director.
Times, Sunday Times (2009)
A personal pension can be taken out alongside a company scheme.
Times, Sunday Times (2009)
I want to move it into a self-invested personal pension.
Times, Sunday Times (2010)
A personal pension plan followed in 1996.
The Sun (2011)
Put some money in a personal pension and cash it in immediately.
Times, Sunday Times (2009)
I have a personal pension, mainly to take advantage of the tax breaks.