The UK regulatory body responsible for protecting the benefits of those in work-based pension schemes; this includes all occupational schemes and any other schemes in which payments are made through the employer.
A personal pension scheme is an arrangement where an individual contributes a portion of their salary to a pension provider, like an insurance company or bank, to secure funds for retirement.
A creditor whose debt is prioritized over other creditors’ debt, increasing their likelihood of payment in full during a bankruptcy or company winding-up procedure.
