Term deposit
An investment in which you lock away your cash for a specified amount of time (the ‘term’) in return for a guaranteed rate of interest.
The specific term can be from one month up to a number of years. There may also be a minimum amount you need to set aside (known as the ‘deposit’).
Popular terms
Lump sum and death benefit allowance
This is a limit on the total tax-free lump sums that can be paid from your pensions both in your...
Lump sum allowance
When you access your pension, you can usually take up to 25% of the value tax-free. The lump sum allowance...
Ready-made pension
A simple, low-cost pension where you choose from four AJ Bell fund options.
Money paid in is automatically invested...