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A personal pension scheme (PPS), sometimes called a personal pension plan (PPP), is a UK tax-privileged individual investment vehicle, with the primary purpose of building a capital sum to provide retirement benefits, although it will usually also provide death benefits. These plans first became available on 1 July 1988 and replaced retirement annuity plans. Both the individual can contribute as well as their employer. Benefits can be taken at any time after age 55 if the plan rules allow, or earlier in the case of ill health. In the past, legislation required benefits to be taken before age 75, and many plans still contain this restriction. Part of the fund (usually 25%) may be taken as a tax-free lump sum at retirement. New rules on drawing on the retirement fund, known as "Pension Freedom", came into effect on 5th April 2015. There are two types of personal pension scheme: insured personal pensions, where each contract will have a set range of investment funds for planholders to choose from (this is not as restrictive as it sounds, as some modern schemes have over a thousand fund options) and self-invested personal pensions (SIPPs). Insured personal pensions with charges capped at a low level, and which satisfy certain other conditions, are known as stakeholder pension. ==Contributions== Contributions to a PPS can be made either from the individual or from an employer. An individual can, each year, put in an amount up to the lower of 100% of their earned income or the prevailing annual allowance. The annual allowance for the tax year 2008/09 was £235,000, but it was reduced to £50,000 for tax years from 2011/12. From tax year 2014-15 onwards the annual allowance will go down to £40,000.〔http://www.hmrc.gov.uk/pensionschemes/understanding-aa.htm〕 It is worth noting that an individual can in fact put in higher amounts if they wanted to, but would not be allowed to claim tax relief on the surplus. At the other end, low or non earners are allowed to contribute £3,600 per year. An employer can contribute an amount of up to the annual allowance each year, provided that they can demonstrate to the local inspector of taxes that this contribution has been made wholly and exclusively for the purposes of the business. This definition is open to wide interpretation and HMRC have yet to provide any more concrete guidelines. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「personal pension scheme」の詳細全文を読む スポンサード リンク
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