Managing My Money Glossary
Glossary of terms used in Managing My Money.
Browse the glossary using this index
Special | A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | ALL
P |
|---|
Pay-as-you-go (PAYG) schemePension scheme where pensions and other benefits paid out today are paid for out of tax revenues collected today. | |
Principal sum (or capital sum)The original amount of debt taken out. | |
Private pensionUsed collectively to refer to occupational pensions and personal pensions rather than to state pensions. | |
Progressive taxationA tax whereby the proportion of a person's income that is paid as tax increases as their income increases. | |