Annuity paid by an insurance company. Normal Minimum Pension Age (NMPA) The age benefits can be taken from a registered pension scheme. For all registered pension schemes this must have risen from 50 to 55 from 06 April 2010. Primary Protection Protection of pre A day pension rights in excess of £1.5 million where further contributions or benefit accrual is allowed. Qualifying Overseas Pension Scheme An overseas pension scheme that an individual who has migrated to the UK can contribute to and claim UK tax relief on their contributions.
a regular income for the rest of your life
a type of immediate annuity wherein upon investing you automatically receive guaranteed income payments for the rest of your life