Managing My Money Glossary
Glossary of terms used in Managing My Money.
Thursday, 28 March 2024, 5:38 PM
Site: Open Learning
Course: Managing my money (MMM_1)
Glossary: Managing My Money Glossary
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. |
PlatformsA website-based arrangement that enables investors or their advisers to select and buy investments and hold them in a portfolio (which might be in the form of, for example, an ISA or pension scheme) administered by the platform provider. |
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. |