- S
- Salary sacrifice
- An arrangement between you and your employer in which you agree to a reduction in salary or bonus in return for a benefit, which as a pension contribution from your employer which matches the salary/bonus you gave up.
- Self-invested personal pension (SIPP)
- A personal pension that offers a wide choice of investments and is designed for someone who wants to take an active role in how their pension contributions are invested.
- Servicing Agent
- A company or individual who provides financial advice, or assists with ongoing servicing of a policy. The company that is appointed as a servicing agent may differ from the original company or individual who recommended the policy.
- Shares (or stocks)
- A share is a small part of a company. When you buy shares you effectively become a part owner of the company. The share price can go up and down, depending on how well the company does and when the company makes a profit its directors may choose to distribute an income to the shareholders in the form of dividends.
- State Pension Age
- A type of occupational pension scheme limited to 11 members and typically set up by company directors. It allows a business to purchase its own premises and hold it within the pension scheme. Both employer and employee contributions can be paid and it is regulated by the pension regulator (TPR).
- Stockmarket
- The name given to exchanges where you can buy and sell shares in companies and other instruments. A stock exchange is also where companies can issue shares for sale.
Is there jargon we use that you don’t fully understand? Please email us at info@ifglpensions.com and we will add the word to our Jargon Buster.