{"id":9004111222339971,"date":"2023-05-22T10:20:37","date_gmt":"2023-05-22T09:20:37","guid":{"rendered":"https:\/\/platformscottishwidows.flywheelsites.com\/client\/glossary\/"},"modified":"2025-01-24T14:49:22","modified_gmt":"2025-01-24T14:49:22","slug":"glossary","status":"publish","type":"page","link":"https:\/\/platform.scottishwidows.co.uk\/client\/glossary\/","title":{"rendered":"Glossary"},"content":{"rendered":"<div class=\"cm-glossary classic-definition\"><div class=\"glossary-container no-counts\"><input type=\"hidden\" class=\"cmtt-attribute-field\" name=\"glossary_index_style\" value=\"classic-definition\">        <div class=\"progress-indicator\" style=\"display:none\">&#13;\n                            <img decoding=\"async\" src=\"https:\/\/platform.scottishwidows.co.uk\/client\/wp-content\/plugins\/TooltipProEcommerce\/assets\/css\/images\/ajax-loader.gif\" alt=\"AJAX progress indicator\"\/>&#13;\n                    <\/div>&#13;\n\t\t<div class=\"glossary_top_filter\">&#13;\n\t\t\t<div class=\"left\">&#13;\n\t\t\t\t\t\t\t\t\t\t<div class=\"cmtt_help glossary-search-helpitem\" data-cmtooltip=\"The search returns the partial search for the given query from both the term title and description. So it will return the results even if the given query is part of the word in the description.\"><\/div>&#13;\n\t\t\t\t\t\t\t\t\t\t<div class=\"glossary-search-wrapper\">&#13;\n                        <span class=\"glossary-search-label\">Search:<\/span>&#13;\n\t\t\t\t\t\t                            <input value=\"\" placeholder=\"\" class=\"glossary-search-term \" name=\"glossary-search-term\" id=\"glossary-search-term\" aria-label=\"Search\">&#13;\n                            <button type=\"submit\" id=\"glossary-search\" class=\"glossary-search button\">Search<\/button>&#13;\n&#13;\n                            <a class=\"glossary-search-clear\" title=\"Clear the input\" href=\"\">&#13;\n                                (clear)                            <\/a>&#13;\n                    <\/div>&#13;\n\t\t\t\t\t\t\t\t<\/div>&#13;\n\t\t\t<input type=\"hidden\" class=\"cmtt-attribute-field\" name=\"hide_tags\" value=\"1\">\t\t<\/div>&#13;\n        &#13;\n\t\t<input type=\"hidden\" class=\"cmtt-attribute-field\" name=\"disable_listnav\" value=\"0\">&#13;\n\t\t<input type=\"hidden\" class=\"cmtt-attribute-field\" name=\"exact_search\" value=\"0\">&#13;\n\t\t<input type=\"hidden\" class=\"cmtt-attribute-field\" name=\"show_search\" value=\"1\">&#13;\n\t\t<input type=\"hidden\" class=\"glossary-hide-terms\" name=\"glossary-hide-terms\" value=\"0\">&#13;\n\t\t<input type=\"hidden\" class=\"glossary-hide-categories\" name=\"glossary-hide-categories\" value=\"1\">&#13;\n\t\t<input type=\"hidden\" class=\"glossary-hide-abbrevs\" name=\"glossary-hide-abbrevs\" value=\"0\">&#13;\n\t\t<input type=\"hidden\" class=\"glossary-hide-synonyms\" name=\"glossary-hide-synonyms\" value=\"0\">&#13;\n\t\t<input type=\"hidden\" class=\"glossary-perpage\" name=\"glossary-perpage\" value=\"0\">&#13;\n\t\t<input type=\"hidden\" name=\"tooltip_language\" value=\"\">&#13;\n\t\t<input type=\"hidden\" name=\"language_dropdown\" value=\"\">&#13;\n\t\t<input type=\"hidden\" name=\"languages_for_table\" value=\"\">&#13;\n\t\t<div id=\"glossaryList-nav\" class=\"listNav medium\" role=\"tablist\"><\/div><ul class=\"glossaryList\" role=\"tablist\" id=\"glossaryList\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTermSet\"><li class=\" ln-0\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"A\"><span itemprop=\"name\">ACD (Authorised Corporate Director)<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">The authorised corporate director of a company. ACDs (Authorised Corporate Director) are responsible for the day to day management and governance of an <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> fund. They have a duty to act in the best interests of the fund's investors, and to ensure that the fund is well managed in line with  the <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> objectives and policies set out in its prospectus, and the regulations that apply to it.&#xA0;&#xA0;<\/dfn><\/li><li class=\" ln-0\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"A\"><span itemprop=\"name\">Adjusted Income<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is the total income for the tax year plus the value of any employee pension contributions and minus any allowances and\/or tax relief. Income can include salary, bonus, profits from self-employment, benefits in kind, pension income (including <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Uncrystallised funds&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Pension funds that have not yet been subject to a Benefit Crystallisation Event.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Pension funds that have not yet been subject to a Benefit Crystallisation Event.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Uncrystallised Funds<\/span> Pension Lump Sums), property, savings and dividends etc. Allowances\/reliefs can include pension scheme tax relief, gifts to charities and trade losses. &#xA0;<\/dfn><\/li><li class=\" ln-0\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"A\"><span itemprop=\"name\">Alternative Investment Fund<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">Alternative <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> funds hold non-traditional investments and\/or use complex <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> and trading strategies.&#xA0;<\/dfn><\/li><li class=\" ln-0\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"A\"><span itemprop=\"name\">Annual Allowance<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is the maximum amount you can pay into your pension savings each year without paying a tax charge. It&#x2019;s currently &#xA3;60,000 for most people and applies across all your pension pots.  <\/dfn><\/li><li class=\" ln-0\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"A\"><span itemprop=\"name\">Annuity<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A guaranteed income paid to a member for the rest of their life. An <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Annuity&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A guaranteed income paid to a member for the rest of their life. An Annuity can be for a fixed or increasing amount, and may include a guarantee period and\/or a secondary income payable to a spouse for the remainder of their life following the death of the member.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A guaranteed income paid to a member for the rest of their life. An Annuity can be for a fixed or increasing amount, and may include a guarantee period and\/or a secondary income payable to a spouse for the remainder of their life following the death of the member.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>Annuity<\/span> can be for a fixed or increasing amount, and may include a guarantee period and\/or a secondary income payable to a spouse for the remainder of their life following the death of the member.<\/dfn><\/li><li class=\" ln-0\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"A\"><span itemprop=\"name\">Arm&#x2019;s Length<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This describes a transaction or deal in which the buyers, sellers or investors do not already have either an existing business or personal relationship, or if they do have such a relationship then any commercial terms are determined by an independent provider, for example a surveyor or an accountant.<\/dfn><\/li><li class=\" ln-0\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"A\"><span itemprop=\"name\">Authorised payment<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is a payment specifically authorised under the pension tax legislation, including Pension Commencement Lump Sums and drawdown pensions.<\/dfn><\/li><li class=\" ln-0\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"A\"><span itemprop=\"name\">Authorised Unit Trust Scheme (AUT)<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is an <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> scheme where investors pool their money together with the aim of investing in a portfolio of assets overseen by a professional manager. Therefore, all the assets in that scheme are held in trust for the investors.&#xA0;&#xA0;&#xA0;<\/dfn><\/li><li class=\" ln-1\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"B\"><span itemprop=\"name\">Banking Partners<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">The general term given to the bank or building societies &#xA0;we&#xA0;&#xA0; use to support our banking requirements.<\/dfn><\/li><li class=\" ln-1\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"B\"><span itemprop=\"name\">Basis Points (BPs)<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A basis point is a common measure for interest rates and other percentages in finance. One basis point equals 0.01% (or 1\/100th of 1%). Therefore, if an interest rate goes up from 3.0% to 3.5%, it has moved up by 50 basis points. Basis points are typically expressed with the abbreviations bp or bps.&#xA0;<\/dfn><\/li><li class=\" ln-1\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"B\"><span itemprop=\"name\">Beneficiary<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">Any party entitled to death benefits, including any individual who is your <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Dependant&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Dependant refers to a person who, at the time of your death:&amp;lt;br\/&amp;gt;&bull; is married to you, or is your civil partner,&amp;lt;br&amp;gt;&bull; was married to you, or was your civil partner, when you first became entitled to a pension under your SIPP,&amp;lt;br&amp;gt;&bull; a child of yours who has not attained age 23,&amp;lt;br&amp;gt;&bull; a child who, in the opinion of the scheme administrator, was dependent on you because of physical or mental impairment (whatever the child&rsquo;s age),&amp;lt;br&amp;gt;&bull; a child of yours who was already receiving dependants&rsquo; drawdown and who reached their 23rd birthday on or after 16 September 2016,&amp;lt;br&amp;gt;&bull; any other person (not married to you, not your civil partner, nor your child) who, in the opinion of the scheme administrator: &amp;lt;br&amp;gt;a. was financially dependent on you, &amp;lt;br&amp;gt;b. you and the person were financially dependent on each other,&amp;lt;br&amp;gt;c. the person was dependent on you because of mental or physical impairment.&amp;lt;br&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Dependant refers to a person who, at the time of your death:&amp;lt;br\/&amp;gt;&bull; is married to you, or is your civil partner,&amp;lt;br&amp;gt;&bull; was married to you, or was your civil partner, when you first became entitled to a pension under your SIPP,&amp;lt;br&amp;gt;&bull; a child of yours who has not attained age 23,&amp;lt;br&amp;gt;&bull; a child who, in the opinion of the scheme administrator, was dependent on you because of physical or mental impairment (whatever the child&rsquo;s age),&amp;lt;br&amp;gt;&bull; a child of yours who was already receiving dependants&rsquo; drawdown and who reached their 23rd birthday on or after 16 September 2016,&amp;lt;br&amp;gt;&bull; any other person (not married to you, not your civil partner, nor your child) who, in the opinion of the scheme administrator: &amp;lt;br&amp;gt;a. was financially dependent on you, &amp;lt;br&amp;gt;b. you and the person were financially dependent on each other,&amp;lt;br&amp;gt;c. the person was dependent on you because of mental or physical impairment.&amp;lt;br&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>dependant<\/span>, <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Nominee&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;An individual who is not your dependant but who you have nominated to receive a drawdown pension and\/or annuity payments in the event of your death. The Scheme Administrator may also nominate a nominee &ndash; but only where you have no surviving dependants or nominees and you did not nominate a charity.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;An individual who is not your dependant but who you have nominated to receive a drawdown pension and\/or annuity payments in the event of your death. The Scheme Administrator may also nominate a nominee &ndash; but only where you have no surviving dependants or nominees and you did not nominate a charity.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>nominee<\/span> or <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Successor&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;An individual nominated by a beneficiary to receive their benefits in the event of their death. The scheme administrator may also nominate a successor but only where the beneficiary has not nominated an individual or a charity.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;An individual nominated by a beneficiary to receive their benefits in the event of their death. The scheme administrator may also nominate a successor but only where the beneficiary has not nominated an individual or a charity.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">successor<\/span>.<\/dfn><\/li><li class=\" ln-1\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"B\"><span itemprop=\"name\">Benefit Crystallisation (Event)<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">An event which requires your fund to be tested against the <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Lifetime Allowance&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Lifetime Allowance<\/span>. Examples of this include choosing to take <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Cash&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>cash<\/span> from your pension savings, entering into a flexible income drawdown arrangement and\/or buying a regular income (<span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Annuity&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A guaranteed income paid to a member for the rest of their life. An Annuity can be for a fixed or increasing amount, and may include a guarantee period and\/or a secondary income payable to a spouse for the remainder of their life following the death of the member.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A guaranteed income paid to a member for the rest of their life. An Annuity can be for a fixed or increasing amount, and may include a guarantee period and\/or a secondary income payable to a spouse for the remainder of their life following the death of the member.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>annuity<\/span>).<\/dfn><\/li><li class=\" ln-1\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"B\"><span itemprop=\"name\">Bid offer spread<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">The bid-offer spread is simply the difference between the price at which you can buy a security and the price at which you can sell it. <\/dfn><\/li><li class=\" ln-1\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"B\"><span itemprop=\"name\">Block Transfer<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Block Transfer&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A block transfer is where at least two members of the same registered scheme make a transfer simultaneously in the same transaction to another pension scheme.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A block transfer is where at least two members of the same registered scheme make a transfer simultaneously in the same transaction to another pension scheme.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">block transfer<\/span> is where at least two members of the same registered scheme make a transfer simultaneously in the same transaction to another pension scheme.<\/dfn><\/li><li class=\" ln-1\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"B\"><span itemprop=\"name\">Bond<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Bond&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A bond represents a loan between an investor and a borrower.  When you invest in a bond, you&rsquo;re agreeing to loan your money, usually to a government or company for a specific period. In exchange, you&rsquo;ll receive regular interest payments until the bond matures and the loan is fully repaid at the end. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A bond represents a loan between an investor and a borrower.  When you invest in a bond, you&rsquo;re agreeing to loan your money, usually to a government or company for a specific period. In exchange, you&rsquo;ll receive regular interest payments until the bond matures and the loan is fully repaid at the end. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>bond<\/span> represents a loan between an investor and a borrower.  When you invest in a <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Bond&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A bond represents a loan between an investor and a borrower.  When you invest in a bond, you&rsquo;re agreeing to loan your money, usually to a government or company for a specific period. In exchange, you&rsquo;ll receive regular interest payments until the bond matures and the loan is fully repaid at the end. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A bond represents a loan between an investor and a borrower.  When you invest in a bond, you&rsquo;re agreeing to loan your money, usually to a government or company for a specific period. In exchange, you&rsquo;ll receive regular interest payments until the bond matures and the loan is fully repaid at the end. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>bond<\/span>, you&rsquo;re agreeing to loan your money, usually to a government or company for a specific period. In exchange, you&rsquo;ll receive regular interest payments until the <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Bond&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A bond represents a loan between an investor and a borrower.  When you invest in a bond, you&rsquo;re agreeing to loan your money, usually to a government or company for a specific period. In exchange, you&rsquo;ll receive regular interest payments until the bond matures and the loan is fully repaid at the end. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A bond represents a loan between an investor and a borrower.  When you invest in a bond, you&rsquo;re agreeing to loan your money, usually to a government or company for a specific period. In exchange, you&rsquo;ll receive regular interest payments until the bond matures and the loan is fully repaid at the end. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>bond<\/span> matures and the loan is fully repaid at the end. <\/dfn><\/li><li class=\" ln-1\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"B\"><span itemprop=\"name\">Bonus Issue<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">Also known as a scrip issue or a capitalisation issue, this is where shareholders in a company are awarded additional shares or other securities free of payment &#x2013; for example, a company may give one bonus share for every three shares held. However, the nominal value of the shares does not change.<\/dfn><\/li><li class=\" ln-1\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"B\"><span itemprop=\"name\">Business day<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A day in which (UK) Financial markets are open for trading &#x2013; usually any day which is not a Saturday or Sunday, Christmas Day, Good Friday or a Bank Holiday in any part of the United Kingdom.<\/dfn><\/li><li class=\" ln-2\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"C\"><span itemprop=\"name\">Capital Gains Tax (CGT)<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">Capital Gains Tax is a tax on the profit you make when you sell (an &#x2018;asset&#x2019;) that&#x2019;s increased in value within your <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span>. It&#x2019;s the gain you make that&#x2019;s taxed, not the amount of money you receive. For example, if you bought an asset for &#xA3;5,000 and sold it later for &#xA3;25,000, you&#x2019;ve made a gain of &#xA3;20,000. It is not applicable to all assets and you don&#x2019;t pay Capital Gains Tax if all your gains in a single year fall under your tax allowance. <\/dfn><\/li><li class=\" ln-2\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"C\"><span itemprop=\"name\">Capped Drawdown<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A method of taking benefits from your pension, whereby your assets remain invested and your pension income (subject to certain limits) comes from your invested funds or by cashing in some assets within your pension. This only applies if you had designated funds for a <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Capped Drawdown&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A method of taking benefits from your pension, whereby your assets remain invested and your pension income (subject to certain limits) comes from your invested funds or by cashing in some assets within your pension. This only applies if you had designated funds for a Capped Drawdown pension prior to 6 April 2015.&#xA0;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A method of taking benefits from your pension, whereby your assets remain invested and your pension income (subject to certain limits) comes from your invested funds or by cashing in some assets within your pension. This only applies if you had designated funds for a Capped Drawdown pension prior to 6 April 2015.&#xA0;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Capped Drawdown<\/span> pension prior to 6 April 2015.&#xA0;<\/dfn><\/li><li class=\" ln-2\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"C\"><span itemprop=\"name\">Carry Forward<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This allows you to make pension contributions that exceed your <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Annual Allowance&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is the maximum amount you can pay into your pension savings each year without paying a tax charge. It&#x2019;s currently &#xA3;60,000 for most people and applies across all your pension pots.  &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is the maximum amount you can pay into your pension savings each year without paying a tax charge. It&#x2019;s currently &#xA3;60,000 for most people and applies across all your pension pots.  &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">annual allowance<\/span> and still benefit from tax relief by utilising up to a maximum of 3 previous years unused annual allowances. A <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Money Purchase Annual Allowance&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is the amount of money you can pay into your pension pot every year without incurring a tax charge. It is currently &#xA3;10,000.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is the amount of money you can pay into your pension pot every year without incurring a tax charge. It is currently &#xA3;10,000.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Money Purchase Annual Allowance<\/span> cannot be used for a <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Carry Forward&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This allows you to make pension contributions that exceed your annual allowance and still benefit from tax relief by utilising up to a maximum of 3 previous years unused annual allowances. A Money Purchase Annual Allowance cannot be used for a Carry Forward.&#xA0;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This allows you to make pension contributions that exceed your annual allowance and still benefit from tax relief by utilising up to a maximum of 3 previous years unused annual allowances. A Money Purchase Annual Allowance cannot be used for a Carry Forward.&#xA0;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Carry Forward<\/span>.&#xA0;<\/dfn><\/li><li class=\" ln-2\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"C\"><span itemprop=\"name\">Cash<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">&bull; Available <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Cash&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>Cash<\/span>: Available <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Cash&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>cash<\/span> is any <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Cash&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>cash<\/span> held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Charges&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This refers to Platform Charges,&nbsp; SIPP or Pension Scheme Charges, Adviser Charges, Discretionary Investment Manager Model Portfolio Charges, transaction charges, account fees &ndash; and any other applicable charges that may&nbsp; be incurred by the client from time to time.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This refers to Platform Charges,&nbsp; SIPP or Pension Scheme Charges, Adviser Charges, Discretionary Investment Manager Model Portfolio Charges, transaction charges, account fees &ndash; and any other applicable charges that may&nbsp; be incurred by the client from time to time.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>charges<\/span>.\n\n&bull; Committed <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Cash&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>Cash<\/span>: This is any <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Cash&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>cash<\/span> that has been ring-fenced to complete any trading <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Instructions&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This means all instructions received from you, your financial adviser, or Discretionary Investment Manager relating to an account that are not Trade Instructions.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This means all instructions received from you, your financial adviser, or Discretionary Investment Manager relating to an account that are not Trade Instructions.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">instructions<\/span>. It is not available to be used for <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Charges&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This refers to Platform Charges,&nbsp; SIPP or Pension Scheme Charges, Adviser Charges, Discretionary Investment Manager Model Portfolio Charges, transaction charges, account fees &ndash; and any other applicable charges that may&nbsp; be incurred by the client from time to time.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This refers to Platform Charges,&nbsp; SIPP or Pension Scheme Charges, Adviser Charges, Discretionary Investment Manager Model Portfolio Charges, transaction charges, account fees &ndash; and any other applicable charges that may&nbsp; be incurred by the client from time to time.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>charges<\/span> or to pay advisers.<\/dfn><\/li><li class=\" ln-2\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"C\"><span itemprop=\"name\">Cash Transfer<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">The process of moving money between product providers, or to an eligible person. This applies to <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Cash&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>cash<\/span> only and not assets. <\/dfn><\/li><li class=\" ln-2\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"C\"><span itemprop=\"name\">CHAPS<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">Clearing House Automated Payment System (<span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;CHAPS&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Clearing House Automated Payment System (CHAPS) is an electronic bank-to-bank technology that enables same-day payments to be made within the UK.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Clearing House Automated Payment System (CHAPS) is an electronic bank-to-bank technology that enables same-day payments to be made within the UK.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>CHAPS<\/span>) is an electronic bank-to-bank technology that enables same-day payments to be made within the UK.<\/dfn><\/li><li class=\" ln-2\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"C\"><span itemprop=\"name\">Charges<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This refers to <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Platform Charges&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;These are the costs associated with running and maintaining a platform that handles all a customer&#x2019;s instructions, payments, withdrawals etc.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;These are the costs associated with running and maintaining a platform that handles all a customer&#x2019;s instructions, payments, withdrawals etc.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Platform Charges<\/span>,&nbsp; <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;SIPP&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A Self-Invested Personal Pension (SIPP) is a pension &amp;#039;wrapper&amp;#039; that allows you to save, invest and build up a pot of money tax free for when you retire. It also allows you to receive a tax-free lump sum from age 55 &nbsp;and withdraw an income (subject to your marginal rate of tax) in retirement, It iworks in a similar way to a standard personal pension.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A Self-Invested Personal Pension (SIPP) is a pension &amp;#039;wrapper&amp;#039; that allows you to save, invest and build up a pot of money tax free for when you retire. It also allows you to receive a tax-free lump sum from age 55 &nbsp;and withdraw an income (subject to your marginal rate of tax) in retirement, It iworks in a similar way to a standard personal pension.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>SIPP<\/span> or Pension Scheme <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Charges&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This refers to Platform Charges,&nbsp; SIPP or Pension Scheme Charges, Adviser Charges, Discretionary Investment Manager Model Portfolio Charges, transaction charges, account fees &ndash; and any other applicable charges that may&nbsp; be incurred by the client from time to time.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This refers to Platform Charges,&nbsp; SIPP or Pension Scheme Charges, Adviser Charges, Discretionary Investment Manager Model Portfolio Charges, transaction charges, account fees &ndash; and any other applicable charges that may&nbsp; be incurred by the client from time to time.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>Charges<\/span>, Adviser <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Charges&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This refers to Platform Charges,&nbsp; SIPP or Pension Scheme Charges, Adviser Charges, Discretionary Investment Manager Model Portfolio Charges, transaction charges, account fees &ndash; and any other applicable charges that may&nbsp; be incurred by the client from time to time.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This refers to Platform Charges,&nbsp; SIPP or Pension Scheme Charges, Adviser Charges, Discretionary Investment Manager Model Portfolio Charges, transaction charges, account fees &ndash; and any other applicable charges that may&nbsp; be incurred by the client from time to time.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>Charges<\/span>, <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Discretionary Investment Manager&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A Discretionary Investment Manager has your authority (discretion) to manage an investment portfolio on your behalf. A discretionary management service can deliver highly tailored investment portfolios based upon your individual circumstances and objectives. They do not need to inform you every time they make a change, although many parameters can be agreed at the outset. You can, for example, specify that you want to invest in only ethical stocks, or avoid exposure to certain other stocks.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A Discretionary Investment Manager has your authority (discretion) to manage an investment portfolio on your behalf. A discretionary management service can deliver highly tailored investment portfolios based upon your individual circumstances and objectives. They do not need to inform you every time they make a change, although many parameters can be agreed at the outset. You can, for example, specify that you want to invest in only ethical stocks, or avoid exposure to certain other stocks.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Discretionary Investment Manager<\/span> Model Portfolio <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Charges&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This refers to Platform Charges,&nbsp; SIPP or Pension Scheme Charges, Adviser Charges, Discretionary Investment Manager Model Portfolio Charges, transaction charges, account fees &ndash; and any other applicable charges that may&nbsp; be incurred by the client from time to time.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This refers to Platform Charges,&nbsp; SIPP or Pension Scheme Charges, Adviser Charges, Discretionary Investment Manager Model Portfolio Charges, transaction charges, account fees &ndash; and any other applicable charges that may&nbsp; be incurred by the client from time to time.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>Charges<\/span>, transaction <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Charges&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This refers to Platform Charges,&nbsp; SIPP or Pension Scheme Charges, Adviser Charges, Discretionary Investment Manager Model Portfolio Charges, transaction charges, account fees &ndash; and any other applicable charges that may&nbsp; be incurred by the client from time to time.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This refers to Platform Charges,&nbsp; SIPP or Pension Scheme Charges, Adviser Charges, Discretionary Investment Manager Model Portfolio Charges, transaction charges, account fees &ndash; and any other applicable charges that may&nbsp; be incurred by the client from time to time.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>charges<\/span>, account fees &ndash; and any other applicable <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Charges&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This refers to Platform Charges,&nbsp; SIPP or Pension Scheme Charges, Adviser Charges, Discretionary Investment Manager Model Portfolio Charges, transaction charges, account fees &ndash; and any other applicable charges that may&nbsp; be incurred by the client from time to time.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This refers to Platform Charges,&nbsp; SIPP or Pension Scheme Charges, Adviser Charges, Discretionary Investment Manager Model Portfolio Charges, transaction charges, account fees &ndash; and any other applicable charges that may&nbsp; be incurred by the client from time to time.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>charges<\/span> that may&nbsp; be incurred by the client from time to time.<\/dfn><\/li><li class=\" ln-2\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"C\"><span itemprop=\"name\">Charity<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A body or trust established for charitable purposes that is recognised by HMRC as a <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Charity&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A body or trust established for charitable purposes that is recognised by HMRC as a charity for tax purposes.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A body or trust established for charitable purposes that is recognised by HMRC as a charity for tax purposes.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>charity<\/span> for tax purposes.<\/dfn><\/li><li class=\" ln-2\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"C\"><span itemprop=\"name\">Close company<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A UK resident company that is owned by five or fewer &rsquo;participators (I.e. directors, shareholders and investors) who either have <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Control&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A person has control of a company if that person is authorised to direct (or exercise indirect control over) the company&rsquo;s affairs.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A person has control of a company if that person is authorised to direct (or exercise indirect control over) the company&rsquo;s affairs.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>control<\/span> or possess the rights to have a say in important business decisions for the company.<\/dfn><\/li><li class=\" ln-2\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"C\"><span itemprop=\"name\">Collective Investment Scheme<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Collective Investment Scheme&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A Collective Investment Scheme is a professionally managed fund  which combines the money of a broad range of investors in a single investment vehicle, more commonly known as &amp;#039;investment funds&amp;#039;, &amp;#039;mutual funds&amp;#039; or just &amp;#039;funds&amp;#039;.&#xA0;They invest in assets, such as bonds, equities or cash.&#xA0;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A Collective Investment Scheme is a professionally managed fund  which combines the money of a broad range of investors in a single investment vehicle, more commonly known as &amp;#039;investment funds&amp;#039;, &amp;#039;mutual funds&amp;#039; or just &amp;#039;funds&amp;#039;.&#xA0;They invest in assets, such as bonds, equities or cash.&#xA0;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Collective Investment Scheme<\/span> is a professionally managed fund  which combines the money of a broad range of investors in a single <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> vehicle, more commonly known as '<span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> funds', '<span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Mutual Funds&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A mutual fund is a professionally managed collective investment scheme that pools money from many investors.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A mutual fund is a professionally managed collective investment scheme that pools money from many investors.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">mutual funds<\/span>' or just 'funds'.&nbsp;They invest in assets, such as bonds, <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Equities&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;These are shares in the ownership of a company.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;These are shares in the ownership of a company.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>equities<\/span> or <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Cash&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>cash<\/span>.&nbsp;<\/dfn><\/li><li class=\" ln-2\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"C\"><span itemprop=\"name\">Commercial property transactions<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is the process of buying, selling or leasing commercial real estate.\nExamples of <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Commercial property transactions&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is the process of buying, selling or leasing commercial real estate.Examples of commercial property transactions include:&amp;lt;br\/&amp;gt;&#x2022; acquisitions (including purchases and in specie transfers from other registered pension schemes),&amp;lt;br&amp;gt;&#x2022; assignments,&amp;lt;br&amp;gt;&#x2022; deeds of surrender of lease,&amp;lt;br&amp;gt;&#x2022; insurance applications,&amp;lt;br&amp;gt;&#x2022; mortgages, &amp;lt;br&amp;gt;&#x2022; occupational leases and tenancy agreements, &amp;lt;br&amp;gt;&#x2022; rent reviews and rent reconciliations, &amp;lt;br&amp;gt;&#x2022; lease renewals,&amp;lt;br&amp;gt;&#x2022; sales.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is the process of buying, selling or leasing commercial real estate.Examples of commercial property transactions include:&amp;lt;br\/&amp;gt;&#x2022; acquisitions (including purchases and in specie transfers from other registered pension schemes),&amp;lt;br&amp;gt;&#x2022; assignments,&amp;lt;br&amp;gt;&#x2022; deeds of surrender of lease,&amp;lt;br&amp;gt;&#x2022; insurance applications,&amp;lt;br&amp;gt;&#x2022; mortgages, &amp;lt;br&amp;gt;&#x2022; occupational leases and tenancy agreements, &amp;lt;br&amp;gt;&#x2022; rent reviews and rent reconciliations, &amp;lt;br&amp;gt;&#x2022; lease renewals,&amp;lt;br&amp;gt;&#x2022; sales.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">commercial property transactions<\/span> include:\n&bull; acquisitions (including purchases and <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;In specie&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&lsquo;In specie&rsquo; means transferring the ownership of an asset without the need to convert it into cash. It comes from a Latin phrase meaning &lsquo;in its actual form&rsquo;. In specie transfers involve the transfer of assets between two pension schemes, while in specie contributions involve the transfer of assets from an individual or company to a pension scheme. Assets involved need to be properly valued and assessed for suitability by the receiving scheme.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&lsquo;In specie&rsquo; means transferring the ownership of an asset without the need to convert it into cash. It comes from a Latin phrase meaning &lsquo;in its actual form&rsquo;. In specie transfers involve the transfer of assets between two pension schemes, while in specie contributions involve the transfer of assets from an individual or company to a pension scheme. Assets involved need to be properly valued and assessed for suitability by the receiving scheme.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>in specie<\/span> transfers from other registered pension schemes),\n&bull; assignments,\n&bull; deeds of surrender of lease,\n&bull; insurance applications,\n&bull; mortgages, \n&bull; occupational leases and tenancy agreements, \n&bull; rent reviews and rent reconciliations, \n&bull; lease renewals,\n&bull; sales.<\/dfn><\/li><li class=\" ln-2\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"C\"><span itemprop=\"name\">Complex Assets\/Instruments<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">These are the types of <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> that carry a higher level of risk than other securities, generally because of the way in which they are structured. These instruments require greater experience and knowledge of investments to fully understand the risks involved. Products such as warrants, securitised derivatives, convertibles, structured products, and other specialist instruments fall into this category.<\/dfn><\/li><li class=\" ln-2\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"C\"><span itemprop=\"name\">Confirmation Schedule<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is the schedule we send you that contains your account information, and which confirms we have accepted the application made on your behalf by your <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Financial Adviser&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;An FCA-authorised adviser who provides financial advice to you, and who is an employee or contractor of a Financial Adviser Firm.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;An FCA-authorised adviser who provides financial advice to you, and who is an employee or contractor of a Financial Adviser Firm.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">financial adviser<\/span> to open an account with us.<\/dfn><\/li><li class=\" ln-2\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"C\"><span itemprop=\"name\">Connected person<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">In a transaction or deal this refers to a situation where the buyers, sellers or investors have an existing business or personal relationship. Examples of connected people are:\n&#x2022; a spouse or civil partner,\n&#x2022; a direct relative (ancestors, brothers, sisters, or lineal descendants), \n&#x2022; the spouse or civil partner of a direct relative, \n&#x2022; a trustee of a settlement where the settlor is a member, or someone connected with a member,\n&#x2022; a person (or that person&#x2019;s spouse or civil partner) who is in partnership with a member, or with a member&#x2019;s spouse or civil partner,\n&#x2022; a company, which is controlled by a member and\/or persons connected with a member.\nFor HMRC reporting purposes, a <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Connected person&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;In a transaction or deal this refers to a situation where the buyers, sellers or investors have an existing business or personal relationship. Examples of connected people are:&amp;lt;br\/&amp;gt;&#x2022; a spouse or civil partner,&amp;lt;br&amp;gt;&#x2022; a direct relative (ancestors, brothers, sisters, or lineal descendants), &amp;lt;br&amp;gt;&#x2022; the spouse or civil partner of a direct relative, &amp;lt;br&amp;gt;&#x2022; a trustee of a settlement where the settlor is a member, or someone connected with a member,&amp;lt;br&amp;gt;&#x2022; a person (or that person&#x2019;s spouse or civil partner) who is in partnership with a member, or with a member&#x2019;s spouse or civil partner,&amp;lt;br&amp;gt;&#x2022; a company, which is controlled by a member and\/or persons connected with a member.&amp;lt;br\/&amp;gt;For HMRC reporting purposes, a connected person also includes close companies of which a member or another connected person is a director. A full definition is in section 1122 of the Corporation Taxes Act 2010.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;In a transaction or deal this refers to a situation where the buyers, sellers or investors have an existing business or personal relationship. Examples of connected people are:&amp;lt;br\/&amp;gt;&#x2022; a spouse or civil partner,&amp;lt;br&amp;gt;&#x2022; a direct relative (ancestors, brothers, sisters, or lineal descendants), &amp;lt;br&amp;gt;&#x2022; the spouse or civil partner of a direct relative, &amp;lt;br&amp;gt;&#x2022; a trustee of a settlement where the settlor is a member, or someone connected with a member,&amp;lt;br&amp;gt;&#x2022; a person (or that person&#x2019;s spouse or civil partner) who is in partnership with a member, or with a member&#x2019;s spouse or civil partner,&amp;lt;br&amp;gt;&#x2022; a company, which is controlled by a member and\/or persons connected with a member.&amp;lt;br\/&amp;gt;For HMRC reporting purposes, a connected person also includes close companies of which a member or another connected person is a director. A full definition is in section 1122 of the Corporation Taxes Act 2010.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">connected person<\/span> also includes close companies of which a member or another <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Connected person&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;In a transaction or deal this refers to a situation where the buyers, sellers or investors have an existing business or personal relationship. Examples of connected people are:&amp;lt;br\/&amp;gt;&#x2022; a spouse or civil partner,&amp;lt;br&amp;gt;&#x2022; a direct relative (ancestors, brothers, sisters, or lineal descendants), &amp;lt;br&amp;gt;&#x2022; the spouse or civil partner of a direct relative, &amp;lt;br&amp;gt;&#x2022; a trustee of a settlement where the settlor is a member, or someone connected with a member,&amp;lt;br&amp;gt;&#x2022; a person (or that person&#x2019;s spouse or civil partner) who is in partnership with a member, or with a member&#x2019;s spouse or civil partner,&amp;lt;br&amp;gt;&#x2022; a company, which is controlled by a member and\/or persons connected with a member.&amp;lt;br\/&amp;gt;For HMRC reporting purposes, a connected person also includes close companies of which a member or another connected person is a director. A full definition is in section 1122 of the Corporation Taxes Act 2010.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;In a transaction or deal this refers to a situation where the buyers, sellers or investors have an existing business or personal relationship. Examples of connected people are:&amp;lt;br\/&amp;gt;&#x2022; a spouse or civil partner,&amp;lt;br&amp;gt;&#x2022; a direct relative (ancestors, brothers, sisters, or lineal descendants), &amp;lt;br&amp;gt;&#x2022; the spouse or civil partner of a direct relative, &amp;lt;br&amp;gt;&#x2022; a trustee of a settlement where the settlor is a member, or someone connected with a member,&amp;lt;br&amp;gt;&#x2022; a person (or that person&#x2019;s spouse or civil partner) who is in partnership with a member, or with a member&#x2019;s spouse or civil partner,&amp;lt;br&amp;gt;&#x2022; a company, which is controlled by a member and\/or persons connected with a member.&amp;lt;br\/&amp;gt;For HMRC reporting purposes, a connected person also includes close companies of which a member or another connected person is a director. A full definition is in section 1122 of the Corporation Taxes Act 2010.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">connected person<\/span> is a director. A full definition is in section 1122 of the Corporation Taxes Act 2010.<\/dfn><\/li><li class=\" ln-2\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"C\"><span itemprop=\"name\">Control<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A person has <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Control&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A person has control of a company if that person is authorised to direct (or exercise indirect control over) the company&rsquo;s affairs.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A person has control of a company if that person is authorised to direct (or exercise indirect control over) the company&rsquo;s affairs.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>control<\/span> of a company if that person is authorised to direct (or exercise indirect <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Control&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A person has control of a company if that person is authorised to direct (or exercise indirect control over) the company&rsquo;s affairs.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A person has control of a company if that person is authorised to direct (or exercise indirect control over) the company&rsquo;s affairs.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>control<\/span> over) the company&rsquo;s affairs.<\/dfn><\/li><li class=\" ln-2\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"C\"><span itemprop=\"name\">Controlling director<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This broadly refers to someone who is a director and, either alone or with their associates, owns 20% or more of the shares in a company. <\/dfn><\/li><li class=\" ln-2\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"C\"><span itemprop=\"name\">Convertible Bonds<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A convertible <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Bond&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A bond represents a loan between an investor and a borrower.  When you invest in a bond, you&rsquo;re agreeing to loan your money, usually to a government or company for a specific period. In exchange, you&rsquo;ll receive regular interest payments until the bond matures and the loan is fully repaid at the end. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A bond represents a loan between an investor and a borrower.  When you invest in a bond, you&rsquo;re agreeing to loan your money, usually to a government or company for a specific period. In exchange, you&rsquo;ll receive regular interest payments until the bond matures and the loan is fully repaid at the end. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>bond<\/span> is a type of debt security that provides an investor with a right (or an obligation) to exchange the <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Bond&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A bond represents a loan between an investor and a borrower.  When you invest in a bond, you&rsquo;re agreeing to loan your money, usually to a government or company for a specific period. In exchange, you&rsquo;ll receive regular interest payments until the bond matures and the loan is fully repaid at the end. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A bond represents a loan between an investor and a borrower.  When you invest in a bond, you&rsquo;re agreeing to loan your money, usually to a government or company for a specific period. In exchange, you&rsquo;ll receive regular interest payments until the bond matures and the loan is fully repaid at the end. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>bond<\/span> for an agreed number of shares in the issuing company at certain times throughout the <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Bond&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A bond represents a loan between an investor and a borrower.  When you invest in a bond, you&rsquo;re agreeing to loan your money, usually to a government or company for a specific period. In exchange, you&rsquo;ll receive regular interest payments until the bond matures and the loan is fully repaid at the end. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A bond represents a loan between an investor and a borrower.  When you invest in a bond, you&rsquo;re agreeing to loan your money, usually to a government or company for a specific period. In exchange, you&rsquo;ll receive regular interest payments until the bond matures and the loan is fully repaid at the end. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>bond<\/span>'s lifetime. <\/dfn><\/li><li class=\" ln-2\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"C\"><span itemprop=\"name\">Corporate bonds<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A corporate <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Bond&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A bond represents a loan between an investor and a borrower.  When you invest in a bond, you&rsquo;re agreeing to loan your money, usually to a government or company for a specific period. In exchange, you&rsquo;ll receive regular interest payments until the bond matures and the loan is fully repaid at the end. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A bond represents a loan between an investor and a borrower.  When you invest in a bond, you&rsquo;re agreeing to loan your money, usually to a government or company for a specific period. In exchange, you&rsquo;ll receive regular interest payments until the bond matures and the loan is fully repaid at the end. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>bond<\/span> is debt issued by a company to raise capital and is a type of debt security that is issued by a firm and sold to investors. An investor who buys a corporate <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Bond&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A bond represents a loan between an investor and a borrower.  When you invest in a bond, you&rsquo;re agreeing to loan your money, usually to a government or company for a specific period. In exchange, you&rsquo;ll receive regular interest payments until the bond matures and the loan is fully repaid at the end. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A bond represents a loan between an investor and a borrower.  When you invest in a bond, you&rsquo;re agreeing to loan your money, usually to a government or company for a specific period. In exchange, you&rsquo;ll receive regular interest payments until the bond matures and the loan is fully repaid at the end. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>bond<\/span> is effectively lending money to the company in return for a series of interest payments.<\/dfn><\/li><li class=\" ln-2\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"C\"><span itemprop=\"name\">Custodian<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is the financial institution, regulated by the FCA or other regulatory body, that holds customer assets and <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Cash&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>cash<\/span> for safekeeping to minimise the risk of their loss to you. This can be in either electronic or physical form.<\/dfn><\/li><li class=\" ln-2\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"C\"><span itemprop=\"name\">Custody Rules<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">These are rules set out by the Financial Conduct Authority, which regulates financial <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Services&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This simply means the services provided by your Financial Adviser Firm, its Associates, your Discretionary Investment Manager or ourselves as the case may be.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This simply means the services provided by your Financial Adviser Firm, its Associates, your Discretionary Investment Manager or ourselves as the case may be.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>services<\/span>, which specify how firms must handle their client's money and assets.<\/dfn><\/li><li class=\" ln-3\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"D\"><span itemprop=\"name\">Data Protection Act (DPA) and UK General Data Protection Regulation (GDPR)<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">The GDPR was adopted into British law after the UK left the European Union. The DPA and UK GDPR governs how your personal information is used and safeguarded by organisations and government agencies. The act states that your information can only be used &#x2018;fairly, lawfully and transparently&#x2019; and for specified purposes, and should not be kept longer than necessary. It must also be securely protected against unauthorised use or theft. The regulations also allows you to find out what information is being stored about you, how it is being used &#x2013; and to have incorrect information updated or deleted.<\/dfn><\/li><li class=\" ln-3\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"D\"><span itemprop=\"name\">Defined Benefit Occupational Pension Scheme<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A pension scheme offered to employees by their <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Employer&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is any company of which you are, or have been, an employee or a director. It also includes any other person to whom you are, or have been, an employee.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is any company of which you are, or have been, an employee or a director. It also includes any other person to whom you are, or have been, an employee.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>employer<\/span> where the benefits are calculated as Defined Benefits.<\/dfn><\/li><li class=\" ln-3\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"D\"><span itemprop=\"name\">Defined Contribution Pension<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">These are benefits from pension schemes where the level of benefits are calculated according to the contributions made (<span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Employer&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is any company of which you are, or have been, an employee or a director. It also includes any other person to whom you are, or have been, an employee.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is any company of which you are, or have been, an employee or a director. It also includes any other person to whom you are, or have been, an employee.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>employer<\/span> and employee), tax relief received and the <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> returns earned, resulting in a total fund value which is available to provide pension benefits on retirement.<\/dfn><\/li><li class=\" ln-3\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"D\"><span itemprop=\"name\">Defined Pension Benefit Scheme<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">Sometimes also referred to as a &#x2018;final salary pension&#x2019;. These are a type of workplace pension that pay you a retirement income based on your salary and years&#x2019; service rather than your contributions. They pay a secure income for life which increases each year with inflation.<\/dfn><\/li><li class=\" ln-3\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"D\"><span itemprop=\"name\">Dependant<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\"><span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Dependant&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Dependant refers to a person who, at the time of your death:&amp;lt;br\/&amp;gt;&bull; is married to you, or is your civil partner,&amp;lt;br&amp;gt;&bull; was married to you, or was your civil partner, when you first became entitled to a pension under your SIPP,&amp;lt;br&amp;gt;&bull; a child of yours who has not attained age 23,&amp;lt;br&amp;gt;&bull; a child who, in the opinion of the scheme administrator, was dependent on you because of physical or mental impairment (whatever the child&rsquo;s age),&amp;lt;br&amp;gt;&bull; a child of yours who was already receiving dependants&rsquo; drawdown and who reached their 23rd birthday on or after 16 September 2016,&amp;lt;br&amp;gt;&bull; any other person (not married to you, not your civil partner, nor your child) who, in the opinion of the scheme administrator: &amp;lt;br&amp;gt;a. was financially dependent on you, &amp;lt;br&amp;gt;b. you and the person were financially dependent on each other,&amp;lt;br&amp;gt;c. the person was dependent on you because of mental or physical impairment.&amp;lt;br&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Dependant refers to a person who, at the time of your death:&amp;lt;br\/&amp;gt;&bull; is married to you, or is your civil partner,&amp;lt;br&amp;gt;&bull; was married to you, or was your civil partner, when you first became entitled to a pension under your SIPP,&amp;lt;br&amp;gt;&bull; a child of yours who has not attained age 23,&amp;lt;br&amp;gt;&bull; a child who, in the opinion of the scheme administrator, was dependent on you because of physical or mental impairment (whatever the child&rsquo;s age),&amp;lt;br&amp;gt;&bull; a child of yours who was already receiving dependants&rsquo; drawdown and who reached their 23rd birthday on or after 16 September 2016,&amp;lt;br&amp;gt;&bull; any other person (not married to you, not your civil partner, nor your child) who, in the opinion of the scheme administrator: &amp;lt;br&amp;gt;a. was financially dependent on you, &amp;lt;br&amp;gt;b. you and the person were financially dependent on each other,&amp;lt;br&amp;gt;c. the person was dependent on you because of mental or physical impairment.&amp;lt;br&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>Dependant<\/span> refers to a person who, at the time of your death:\n&bull; is married to you, or is your civil partner,\n&bull; was married to you, or was your civil partner, when you first became entitled to a pension under your <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;SIPP&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A Self-Invested Personal Pension (SIPP) is a pension &amp;#039;wrapper&amp;#039; that allows you to save, invest and build up a pot of money tax free for when you retire. It also allows you to receive a tax-free lump sum from age 55 &nbsp;and withdraw an income (subject to your marginal rate of tax) in retirement, It iworks in a similar way to a standard personal pension.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A Self-Invested Personal Pension (SIPP) is a pension &amp;#039;wrapper&amp;#039; that allows you to save, invest and build up a pot of money tax free for when you retire. It also allows you to receive a tax-free lump sum from age 55 &nbsp;and withdraw an income (subject to your marginal rate of tax) in retirement, It iworks in a similar way to a standard personal pension.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>SIPP<\/span>,\n&bull; a child of yours who has not attained age 23,\n&bull; a child who, in the opinion of the <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Scheme Administrator&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;The person(s) responsible for the discharge of the functions of the pension scheme.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;The person(s) responsible for the discharge of the functions of the pension scheme.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">scheme administrator<\/span>, was dependent on you because of physical or mental impairment (whatever the child&#x2019;s age),\n&#x2022; a child of yours who was already receiving dependants&#x2019; drawdown and who reached their 23rd birthday on or after 16 September 2016,\n&#x2022; any other person (not married to you, not your civil partner, nor your child) who, in the opinion of the <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Scheme Administrator&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;The person(s) responsible for the discharge of the functions of the pension scheme.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;The person(s) responsible for the discharge of the functions of the pension scheme.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">scheme administrator<\/span>: \na. was financially dependent on you, \nb. you and the person were financially dependent on each other,\nc. the person was dependent on you because of mental or physical impairment.<\/dfn><\/li><li class=\" ln-3\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"D\"><span itemprop=\"name\">Discretionary Investment Manager<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Discretionary Investment Manager&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A Discretionary Investment Manager has your authority (discretion) to manage an investment portfolio on your behalf. A discretionary management service can deliver highly tailored investment portfolios based upon your individual circumstances and objectives. They do not need to inform you every time they make a change, although many parameters can be agreed at the outset. You can, for example, specify that you want to invest in only ethical stocks, or avoid exposure to certain other stocks.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A Discretionary Investment Manager has your authority (discretion) to manage an investment portfolio on your behalf. A discretionary management service can deliver highly tailored investment portfolios based upon your individual circumstances and objectives. They do not need to inform you every time they make a change, although many parameters can be agreed at the outset. You can, for example, specify that you want to invest in only ethical stocks, or avoid exposure to certain other stocks.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Discretionary Investment Manager<\/span> has your authority (discretion) to manage an <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> portfolio on your behalf. A discretionary management service can deliver highly tailored <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> portfolios based upon your individual circumstances and objectives. They do not need to inform you every time they make a change, although many parameters can be agreed at the outset. You can, for example, specify that you want to invest in only ethical stocks, or avoid exposure to certain other stocks.<\/dfn><\/li><li class=\" ln-3\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"D\"><span itemprop=\"name\">Discretionary Portfolio<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is a portfolio of investments that is managed by a <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Discretionary Investment Manager&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A Discretionary Investment Manager has your authority (discretion) to manage an investment portfolio on your behalf. A discretionary management service can deliver highly tailored investment portfolios based upon your individual circumstances and objectives. They do not need to inform you every time they make a change, although many parameters can be agreed at the outset. You can, for example, specify that you want to invest in only ethical stocks, or avoid exposure to certain other stocks.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A Discretionary Investment Manager has your authority (discretion) to manage an investment portfolio on your behalf. A discretionary management service can deliver highly tailored investment portfolios based upon your individual circumstances and objectives. They do not need to inform you every time they make a change, although many parameters can be agreed at the outset. You can, for example, specify that you want to invest in only ethical stocks, or avoid exposure to certain other stocks.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Discretionary Investment Manager<\/span>.<\/dfn><\/li><li class=\" ln-3\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"D\"><span itemprop=\"name\">Discretionary Powers<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\"><span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Discretionary Powers&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Discretionary powers are included in a will or trust deed and allow the trustees to make certain types of decisions. They are not legally binding, but they do give the trustees options that can help them when they make their decisions on behalf of the beneficiaries.&#xA0;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Discretionary powers are included in a will or trust deed and allow the trustees to make certain types of decisions. They are not legally binding, but they do give the trustees options that can help them when they make their decisions on behalf of the beneficiaries.&#xA0;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Discretionary powers<\/span> are included in a will or trust deed and allow the trustees to make certain types of decisions. They are not legally binding, but they do give the trustees options that can help them when they make their decisions on behalf of the beneficiaries.&#xA0;<\/dfn><\/li><li class=\" ln-3\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"D\"><span itemprop=\"name\">Disinvestment Strategy<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">These are the rules and processes that are put in place by us that allow us to sell assets in your fund to ensure there is enough available <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Cash&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>cash<\/span> in your pot to pay out your benefits. Disinvesting is a strategy by which an investor offloads or disposes of an asset or a partial stake in that asset. <\/dfn><\/li><li class=\" ln-3\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"D\"><span itemprop=\"name\">Disqualifying pension credit<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">Where a <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Pension Credit&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A pension credit is the receipt of pension assets that is assigned to you following a pension sharing order from your ex-spouse or former civil partner.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A pension credit is the receipt of pension assets that is assigned to you following a pension sharing order from your ex-spouse or former civil partner.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">pension credit<\/span> (under a pension sharing order) came from pension benefits that were already crystallised, meaning no pension commencement lump sum\/ tax free <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Cash&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>cash<\/span> can be paid when the receiving member puts their benefits in to payment.<\/dfn><\/li><li class=\" ln-3\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"D\"><span itemprop=\"name\">Dividend<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A distribution of profits made by a company to its shareholders.<\/dfn><\/li><li class=\" ln-3\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"D\"><span itemprop=\"name\">Drawdown Pension<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A method of taking benefits from your pension, whereby your assets remain invested and your pension income comes from your invested funds or by cashing in some assets within your pension.<\/dfn><\/li><li class=\" ln-3\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"D\"><span itemprop=\"name\">Due Diligence<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\"><span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Due Diligence&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Due diligence is an investigation or review performed to confirm that the facts and details provided about a third-party or an investment are true. In the financial world, due diligence refers to the examination of operational, legal and financial information before completing a transaction or partnership with another party.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Due diligence is an investigation or review performed to confirm that the facts and details provided about a third-party or an investment are true. In the financial world, due diligence refers to the examination of operational, legal and financial information before completing a transaction or partnership with another party.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Due diligence<\/span> is an investigation or review performed to confirm that the facts and details provided about a third-party or an <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> are true. In the financial world, <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Due Diligence&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Due diligence is an investigation or review performed to confirm that the facts and details provided about a third-party or an investment are true. In the financial world, due diligence refers to the examination of operational, legal and financial information before completing a transaction or partnership with another party.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Due diligence is an investigation or review performed to confirm that the facts and details provided about a third-party or an investment are true. In the financial world, due diligence refers to the examination of operational, legal and financial information before completing a transaction or partnership with another party.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">due diligence<\/span> refers to the examination of operational, legal and financial information before completing a transaction or partnership with another party.<\/dfn><\/li><li class=\" ln-4\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"E\"><span itemprop=\"name\">Earmarking Order<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This redirects part (or all) of a person&#x2019;s pension benefits to their ex-spouse or civil partner when that person retires as an order by the court.<\/dfn><\/li><li class=\" ln-4\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"E\"><span itemprop=\"name\">Employer<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is any company of which you are, or have been, an employee or a director. It also includes any other person to whom you are, or have been, an employee.<\/dfn><\/li><li class=\" ln-4\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"E\"><span itemprop=\"name\">Enhanced Protection<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">Where you have a valid Certificate of <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Enhanced Protection&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Where you have a valid Certificate of Enhanced Protection from HMRC, whatever the value of your benefits at the time they are crystallised, they are not subject to the Lifetime Allowance tax charge.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Where you have a valid Certificate of Enhanced Protection from HMRC, whatever the value of your benefits at the time they are crystallised, they are not subject to the Lifetime Allowance tax charge.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Enhanced Protection<\/span> from HMRC, whatever the value of your benefits at the time they are crystallised, they are not subject to the <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Lifetime Allowance&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Lifetime Allowance<\/span> tax charge.<\/dfn><\/li><li class=\" ln-4\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"E\"><span itemprop=\"name\">Equities<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">These are shares in the ownership of a company.<\/dfn><\/li><li class=\" ln-4\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"E\"><span itemprop=\"name\">ESG investments<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is a form of sustainable investing which prioritises environmental, social, and governance (ESG) factors and analysis into <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> decisions, to better manage risk and seeks to achieve sustainable long-term <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Performance&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is an investment&#x2019;s level of growth over time. This is often referred to as the investment&amp;#039;s returns and is measured by the percentage change of the investment&amp;#039;s value over time.&amp;lt;br\/&amp;gt;&#x2022; Annualised performance is the percentage movement (return) of an investment over a defined time period, calculated as an average per annum.&amp;lt;br&amp;gt;&#x2022; Cumulative performance is the total percentage movement in the price of the asset over the whole of any specified period, be it one\/three\/five years for example, or since an investment commenced.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is an investment&#x2019;s level of growth over time. This is often referred to as the investment&amp;#039;s returns and is measured by the percentage change of the investment&amp;#039;s value over time.&amp;lt;br\/&amp;gt;&#x2022; Annualised performance is the percentage movement (return) of an investment over a defined time period, calculated as an average per annum.&amp;lt;br&amp;gt;&#x2022; Cumulative performance is the total percentage movement in the price of the asset over the whole of any specified period, be it one\/three\/five years for example, or since an investment commenced.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">performance<\/span> returns.&#xA0;<\/dfn><\/li><li class=\" ln-4\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"E\"><span itemprop=\"name\">Exchange Traded Instruments (ETIs)<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">These are shares or bonds in a company, <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Government Bonds&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A government bond is a type of debt-based investment, where you loan money to a government in return for an agreed rate of interest. Governments use them to raise funds that can be spent on new projects or infrastructure, and investors can use them to get a set return paid at regular intervals.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A government bond is a type of debt-based investment, where you loan money to a government in return for an agreed rate of interest. Governments use them to raise funds that can be spent on new projects or infrastructure, and investors can use them to get a set return paid at regular intervals.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">government bonds<\/span>, <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> trusts and Exchange Traded Funds which are bought and sold on a recognised <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> exchange. <\/dfn><\/li><li class=\" ln-4\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"E\"><span itemprop=\"name\">Exchange Traded Products<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\"><span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Exchange Traded Products&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Exchange Traded Products (ETPs) are types of securities that track underlying security, index, or financial instruments. They are comprised of a family of securities that are traded on stock markets just like a common share and are traded intraday to help investors access different countries and regions as well as different sectors and investment styles. One common ETP are Exchange Traded Funds (ETFs), similar to a mutual fund, which contains a basket of investments, that usually tracks an underlying index.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Exchange Traded Products (ETPs) are types of securities that track underlying security, index, or financial instruments. They are comprised of a family of securities that are traded on stock markets just like a common share and are traded intraday to help investors access different countries and regions as well as different sectors and investment styles. One common ETP are Exchange Traded Funds (ETFs), similar to a mutual fund, which contains a basket of investments, that usually tracks an underlying index.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Exchange Traded Products<\/span> (ETPs) are types of securities that track underlying security, index, or financial instruments. They are comprised of a family of securities that are traded on stock markets just like a common share and are traded intraday to help investors access different countries and regions as well as different sectors and <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> styles. One common ETP are Exchange Traded Funds (ETFs), similar to a mutual fund, which contains a basket of investments, that usually tracks an underlying index.<\/dfn><\/li><li class=\" ln-4\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"E\"><span itemprop=\"name\">Expression of Wishes Form<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is the form you complete telling the trustees of your personal pension who you wish them to pay death benefits to on your death.<\/dfn><\/li><li class=\" ln-5\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"F\"><span itemprop=\"name\">Faster Payment<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A type of electronic bank transfer that speeds up the process of sending money. Faster payments can be made in several ways such as over the phone, online or in branch. Faster payments usually arrive within a few seconds, but can take up to two hours.<\/dfn><\/li><li class=\" ln-5\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"F\"><span itemprop=\"name\">FCA or Financial Conduct Authority<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">These are the Rules contained in the Financial Conduct Authority Handbook, which is published by them. These rules apply to all regulated firms, and there are enforcement powers for non compliance.<\/dfn><\/li><li class=\" ln-5\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"F\"><span itemprop=\"name\">FCA Rules<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">These are the rules contained in the FCA Handbook published by the FCA which sets out the rules and guidance to which FCA regulated business must adhere.<\/dfn><\/li><li class=\" ln-5\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"F\"><span itemprop=\"name\">Financial Adviser<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">An FCA-authorised adviser who provides financial advice to you, and who is an employee or contractor of a <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Financial Adviser Firm&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;The Financial Adviser Firm or network that is authorised and regulated by the FCA or PRA. This can also mean an appointed representative of such a firm or network.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;The Financial Adviser Firm or network that is authorised and regulated by the FCA or PRA. This can also mean an appointed representative of such a firm or network.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Financial Adviser Firm<\/span>.<\/dfn><\/li><li class=\" ln-5\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"F\"><span itemprop=\"name\">Financial Adviser Firm<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">The <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Financial Adviser Firm&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;The Financial Adviser Firm or network that is authorised and regulated by the FCA or PRA. This can also mean an appointed representative of such a firm or network.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;The Financial Adviser Firm or network that is authorised and regulated by the FCA or PRA. This can also mean an appointed representative of such a firm or network.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Financial Adviser Firm<\/span> or network that is authorised and regulated by the FCA or PRA. This can also mean an appointed representative of such a firm or network.<\/dfn><\/li><li class=\" ln-5\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"F\"><span itemprop=\"name\">Financial Services Compensation Scheme (FSCS)<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">The Financial <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Services&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This simply means the services provided by your Financial Adviser Firm, its Associates, your Discretionary Investment Manager or ourselves as the case may be.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This simply means the services provided by your Financial Adviser Firm, its Associates, your Discretionary Investment Manager or ourselves as the case may be.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>Services<\/span> Compensation Scheme is an independent body, established under the Financial <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Services&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This simply means the services provided by your Financial Adviser Firm, its Associates, your Discretionary Investment Manager or ourselves as the case may be.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This simply means the services provided by your Financial Adviser Firm, its Associates, your Discretionary Investment Manager or ourselves as the case may be.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>Services<\/span> and Markets Act 2000 as the UK&rsquo;s statutory compensation fund of last resort, for customers of Financial <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Services&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This simply means the services provided by your Financial Adviser Firm, its Associates, your Discretionary Investment Manager or ourselves as the case may be.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This simply means the services provided by your Financial Adviser Firm, its Associates, your Discretionary Investment Manager or ourselves as the case may be.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>Services<\/span> Firms authorised by the FCA.<\/dfn><\/li><li class=\" ln-5\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"F\"><span itemprop=\"name\">Fixed-Income Asset\/Fixed Income Security<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">Fixed income is a class of assets and securities that pay out a set level of <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Cash&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>cash<\/span> flows to investors, typically in the form of fixed interest (coupon) or dividends. Government and <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Corporate bonds&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A corporate bond is debt issued by a company to raise capital and is a type of debt security that is issued by a firm and sold to investors. An investor who buys a corporate bond is effectively lending money to the company in return for a series of interest payments.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A corporate bond is debt issued by a company to raise capital and is a type of debt security that is issued by a firm and sold to investors. An investor who buys a corporate bond is effectively lending money to the company in return for a series of interest payments.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">corporate bonds<\/span> are the most common types of fixed-income products. <\/dfn><\/li><li class=\" ln-5\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"F\"><span itemprop=\"name\">Fixed Protection<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">&#x2022; <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Fixed Protection&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&#x2022; Fixed Protection 2012: Where you have a valid Certificate from HMRC, the value of your benefits at the time they are crystallised, will be measured against a Lifetime Allowance of at least &#xA3;1,800,000.&amp;lt;br\/&amp;gt;&#x2022; Fixed Protection 2014: Where you have a valid Certificate from HMRC, the value of your benefits at the time they are crystallised, will be measured against a Lifetime Allowance of at least &#xA3;1,500,000.&amp;lt;br\/&amp;gt;&#x2022; Fixed Protection 2016: Where you have a valid Reference from HMRC, the value of your benefits at the time they are crystallised, will be measured against a Lifetime Allowance of at least &#xA3;1,250,000.&amp;lt;br\/&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&#x2022; Fixed Protection 2012: Where you have a valid Certificate from HMRC, the value of your benefits at the time they are crystallised, will be measured against a Lifetime Allowance of at least &#xA3;1,800,000.&amp;lt;br\/&amp;gt;&#x2022; Fixed Protection 2014: Where you have a valid Certificate from HMRC, the value of your benefits at the time they are crystallised, will be measured against a Lifetime Allowance of at least &#xA3;1,500,000.&amp;lt;br\/&amp;gt;&#x2022; Fixed Protection 2016: Where you have a valid Reference from HMRC, the value of your benefits at the time they are crystallised, will be measured against a Lifetime Allowance of at least &#xA3;1,250,000.&amp;lt;br\/&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Fixed Protection<\/span> 2012: Where you have a valid Certificate from HMRC, the value of your benefits at the time they are crystallised, will be measured against a <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Lifetime Allowance&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Lifetime Allowance<\/span> of at least &#xA3;1,800,000.\n\n&#x2022; <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Fixed Protection&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&#x2022; Fixed Protection 2012: Where you have a valid Certificate from HMRC, the value of your benefits at the time they are crystallised, will be measured against a Lifetime Allowance of at least &#xA3;1,800,000.&amp;lt;br\/&amp;gt;&#x2022; Fixed Protection 2014: Where you have a valid Certificate from HMRC, the value of your benefits at the time they are crystallised, will be measured against a Lifetime Allowance of at least &#xA3;1,500,000.&amp;lt;br\/&amp;gt;&#x2022; Fixed Protection 2016: Where you have a valid Reference from HMRC, the value of your benefits at the time they are crystallised, will be measured against a Lifetime Allowance of at least &#xA3;1,250,000.&amp;lt;br\/&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&#x2022; Fixed Protection 2012: Where you have a valid Certificate from HMRC, the value of your benefits at the time they are crystallised, will be measured against a Lifetime Allowance of at least &#xA3;1,800,000.&amp;lt;br\/&amp;gt;&#x2022; Fixed Protection 2014: Where you have a valid Certificate from HMRC, the value of your benefits at the time they are crystallised, will be measured against a Lifetime Allowance of at least &#xA3;1,500,000.&amp;lt;br\/&amp;gt;&#x2022; Fixed Protection 2016: Where you have a valid Reference from HMRC, the value of your benefits at the time they are crystallised, will be measured against a Lifetime Allowance of at least &#xA3;1,250,000.&amp;lt;br\/&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Fixed Protection<\/span> 2014: Where you have a valid Certificate from HMRC, the value of your benefits at the time they are crystallised, will be measured against a <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Lifetime Allowance&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Lifetime Allowance<\/span> of at least &#xA3;1,500,000.\n\n&#x2022; <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Fixed Protection&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&#x2022; Fixed Protection 2012: Where you have a valid Certificate from HMRC, the value of your benefits at the time they are crystallised, will be measured against a Lifetime Allowance of at least &#xA3;1,800,000.&amp;lt;br\/&amp;gt;&#x2022; Fixed Protection 2014: Where you have a valid Certificate from HMRC, the value of your benefits at the time they are crystallised, will be measured against a Lifetime Allowance of at least &#xA3;1,500,000.&amp;lt;br\/&amp;gt;&#x2022; Fixed Protection 2016: Where you have a valid Reference from HMRC, the value of your benefits at the time they are crystallised, will be measured against a Lifetime Allowance of at least &#xA3;1,250,000.&amp;lt;br\/&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&#x2022; Fixed Protection 2012: Where you have a valid Certificate from HMRC, the value of your benefits at the time they are crystallised, will be measured against a Lifetime Allowance of at least &#xA3;1,800,000.&amp;lt;br\/&amp;gt;&#x2022; Fixed Protection 2014: Where you have a valid Certificate from HMRC, the value of your benefits at the time they are crystallised, will be measured against a Lifetime Allowance of at least &#xA3;1,500,000.&amp;lt;br\/&amp;gt;&#x2022; Fixed Protection 2016: Where you have a valid Reference from HMRC, the value of your benefits at the time they are crystallised, will be measured against a Lifetime Allowance of at least &#xA3;1,250,000.&amp;lt;br\/&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Fixed Protection<\/span> 2016: Where you have a valid Reference from HMRC, the value of your benefits at the time they are crystallised, will be measured against a <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Lifetime Allowance&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Lifetime Allowance<\/span> of at least &#xA3;1,250,000.<\/dfn><\/li><li class=\" ln-5\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"F\"><span itemprop=\"name\">Flexi-Access Drawdown<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A method of taking benefits from your pension, whereby your assets remain invested and your pension income comes from your invested funds or by cashing in some assets within your pension. It can give you more flexibility over how and when you receive your pension. You can take up to 25% of the scheme as a tax-free lump sum and the  rest of your funds remain invested. You can then decide if you want a regular income, or withdrawals as and when you need them, with no maximum other than the remainder of your fund. <\/dfn><\/li><li class=\" ln-5\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"F\"><span itemprop=\"name\">Free-standing Additional Voluntary Contribution (FSAVC)<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is an individual <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Defined Contribution Pension&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;These are benefits from pension schemes where the level of benefits are calculated according to the contributions made (employer and employee), tax relief received and the investment returns earned, resulting in a total fund value which is available to provide pension benefits on retirement.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;These are benefits from pension schemes where the level of benefits are calculated according to the contributions made (employer and employee), tax relief received and the investment returns earned, resulting in a total fund value which is available to provide pension benefits on retirement.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">defined contribution pension<\/span> top-up plan that allows you to make additional payments to your plan. This type of arrangement usually gives you the option of continuing to pay into it even if you change <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Employer&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is any company of which you are, or have been, an employee or a director. It also includes any other person to whom you are, or have been, an employee.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is any company of which you are, or have been, an employee or a director. It also includes any other person to whom you are, or have been, an employee.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>employer<\/span>.&nbsp;&nbsp;<\/dfn><\/li><li class=\" ln-5\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"F\"><span itemprop=\"name\">Fund Management<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\"><span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Fund Management&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Fund Management companies take charge of all activities relating to the day-to-day operation of investment funds. This includes overseeing the investment management, marketing and central administration of the fund, as well as establishing a risk management and due diligence structure that satisfies regulatory requirements and protects investor interests.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Fund Management companies take charge of all activities relating to the day-to-day operation of investment funds. This includes overseeing the investment management, marketing and central administration of the fund, as well as establishing a risk management and due diligence structure that satisfies regulatory requirements and protects investor interests.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Fund Management<\/span> companies take charge of all activities relating to the day-to-day operation of <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> funds. This includes overseeing the <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> management, marketing and central administration of the fund, as well as establishing a risk management and <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Due Diligence&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Due diligence is an investigation or review performed to confirm that the facts and details provided about a third-party or an investment are true. In the financial world, due diligence refers to the examination of operational, legal and financial information before completing a transaction or partnership with another party.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Due diligence is an investigation or review performed to confirm that the facts and details provided about a third-party or an investment are true. In the financial world, due diligence refers to the examination of operational, legal and financial information before completing a transaction or partnership with another party.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">due diligence<\/span> structure that satisfies regulatory requirements and protects investor interests.<\/dfn><\/li><li class=\" ln-6\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"G\"><span itemprop=\"name\">GAD rate<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">The GAD (Government Actuary&#x2019;s Department) rate is part of a formula that calculates the maximum amount a member of a <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Capped Drawdown&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A method of taking benefits from your pension, whereby your assets remain invested and your pension income (subject to certain limits) comes from your invested funds or by cashing in some assets within your pension. This only applies if you had designated funds for a Capped Drawdown pension prior to 6 April 2015.&#xA0;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A method of taking benefits from your pension, whereby your assets remain invested and your pension income (subject to certain limits) comes from your invested funds or by cashing in some assets within your pension. This only applies if you had designated funds for a Capped Drawdown pension prior to 6 April 2015.&#xA0;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">capped drawdown<\/span> scheme can withdraw from their scheme each year. The maximum amount is recalculated every 3 years up to age 75 and annually thereafter.<\/dfn><\/li><li class=\" ln-6\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"G\"><span itemprop=\"name\">Gilts<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A Gilt is a UK government <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Bond&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A bond represents a loan between an investor and a borrower.  When you invest in a bond, you&rsquo;re agreeing to loan your money, usually to a government or company for a specific period. In exchange, you&rsquo;ll receive regular interest payments until the bond matures and the loan is fully repaid at the end. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A bond represents a loan between an investor and a borrower.  When you invest in a bond, you&rsquo;re agreeing to loan your money, usually to a government or company for a specific period. In exchange, you&rsquo;ll receive regular interest payments until the bond matures and the loan is fully repaid at the end. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>bond<\/span> that's denominated in British pounds. They're issued by the Debt Management Office (DMO) on behalf of HM Treasury. UK <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Gilts&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A Gilt is a UK government bond that&amp;#039;s denominated in British pounds. They&amp;#039;re issued by the Debt Management Office (DMO) on behalf of HM Treasury. UK Gilts are sensitive to market changes, including interest rate changes and major political events.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A Gilt is a UK government bond that&amp;#039;s denominated in British pounds. They&amp;#039;re issued by the Debt Management Office (DMO) on behalf of HM Treasury. UK Gilts are sensitive to market changes, including interest rate changes and major political events.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>Gilts<\/span> are sensitive to market changes, including interest rate changes and major political events.<\/dfn><\/li><li class=\" ln-6\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"G\"><span itemprop=\"name\">Government Bonds<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A government <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Bond&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A bond represents a loan between an investor and a borrower.  When you invest in a bond, you&rsquo;re agreeing to loan your money, usually to a government or company for a specific period. In exchange, you&rsquo;ll receive regular interest payments until the bond matures and the loan is fully repaid at the end. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A bond represents a loan between an investor and a borrower.  When you invest in a bond, you&rsquo;re agreeing to loan your money, usually to a government or company for a specific period. In exchange, you&rsquo;ll receive regular interest payments until the bond matures and the loan is fully repaid at the end. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>bond<\/span> is a type of debt-based <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span>, where you loan money to a government in return for an agreed rate of interest. Governments use them to raise funds that can be spent on new projects or infrastructure, and investors can use them to get a set return paid at regular intervals.<\/dfn><\/li><li class=\" ln-8\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"I\"><span itemprop=\"name\">Identity Verification Check<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is used to verify a person&#x2019;s identity, and ensure that they are who they claim to be. It can also be used to identify fraudulent activity.<\/dfn><\/li><li class=\" ln-8\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"I\"><span itemprop=\"name\">Illiquid Asset<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">Illiquid refers to an asset that cannot easily and readily be sold or exchanged for <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Cash&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>cash<\/span>, such as property or works of art and antiques. These can be difficult to sell for many reasons &ndash; often it's not easy to find a buyer or the process of selling the asset can take a long time.<\/dfn><\/li><li class=\" ln-8\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"I\"><span itemprop=\"name\">Income Payments Order<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">An <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Income Payments Order&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;An Income Payments Order (IPO) allows for a court to direct the income of a bankrupt &#x2014; or more likely a proportion of it &#x2014; to be paid to the Official Receiver (OR) or any appointed trustee in bankruptcy.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;An Income Payments Order (IPO) allows for a court to direct the income of a bankrupt &#x2014; or more likely a proportion of it &#x2014; to be paid to the Official Receiver (OR) or any appointed trustee in bankruptcy.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Income Payments Order<\/span> (IPO) allows for a court to direct the income of a bankrupt &#x2014; or more likely a proportion of it &#x2014; to be paid to the Official Receiver (OR) or any appointed trustee in bankruptcy.<\/dfn><\/li><li class=\" ln-8\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"I\"><span itemprop=\"name\">Income Payment Strategy<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A strategy for selling assets in your accounts to create available <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Cash&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>cash<\/span>&nbsp; in your account and thereby allow an <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Income Withdrawal&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Also called pension drawdown, this is an alternative to buying an annuity. It allows the customer to draw an annual income while leaving the rest of their fund invested. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Also called pension drawdown, this is an alternative to buying an annuity. It allows the customer to draw an annual income while leaving the rest of their fund invested. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">income withdrawal<\/span> to be made.&#xA0;<\/dfn><\/li><li class=\" ln-8\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"I\"><span itemprop=\"name\">Income Withdrawal<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">Also called pension drawdown, this is an alternative to buying an <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Annuity&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A guaranteed income paid to a member for the rest of their life. An Annuity can be for a fixed or increasing amount, and may include a guarantee period and\/or a secondary income payable to a spouse for the remainder of their life following the death of the member.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A guaranteed income paid to a member for the rest of their life. An Annuity can be for a fixed or increasing amount, and may include a guarantee period and\/or a secondary income payable to a spouse for the remainder of their life following the death of the member.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>annuity<\/span>. It allows the customer to draw an annual income while leaving the rest of their fund invested. <\/dfn><\/li><li class=\" ln-8\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"I\"><span itemprop=\"name\">Individual Protection<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">&#x2022; <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Individual Protection&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&#x2022; Individual Protection 2014: Where you have a valid Certificate from HMRC, the value of your benefits at the time they are crystallised, will be measured against a Lifetime Allowance at least equal to the total value of your benefits (between &#xA3;1,250,001 and &#xA3;1,500,000) in all registered pension schemes, and any relieved non-UK pension rights you have, on 5 April 2014.&amp;lt;br\/&amp;gt;&#x2022; Individual Protection 2016: Where you have a valid Reference from HMRC, the value of your benefits at the time they are crystallised, will be measured against a Lifetime Allowance at least equal to the total value of your benefits (between &#xA3;1,000,001 and &#xA3;1,250,000) in all registered pension schemes, and any relieved non-UK pension rights you have, on 5 April 2016.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&#x2022; Individual Protection 2014: Where you have a valid Certificate from HMRC, the value of your benefits at the time they are crystallised, will be measured against a Lifetime Allowance at least equal to the total value of your benefits (between &#xA3;1,250,001 and &#xA3;1,500,000) in all registered pension schemes, and any relieved non-UK pension rights you have, on 5 April 2014.&amp;lt;br\/&amp;gt;&#x2022; Individual Protection 2016: Where you have a valid Reference from HMRC, the value of your benefits at the time they are crystallised, will be measured against a Lifetime Allowance at least equal to the total value of your benefits (between &#xA3;1,000,001 and &#xA3;1,250,000) in all registered pension schemes, and any relieved non-UK pension rights you have, on 5 April 2016.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Individual Protection<\/span> 2014: Where you have a valid Certificate from HMRC, the value of your benefits at the time they are crystallised, will be measured against a <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Lifetime Allowance&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Lifetime Allowance<\/span> at least equal to the total value of your benefits (between &#xA3;1,250,001 and &#xA3;1,500,000) in all registered pension schemes, and any relieved non-UK pension rights you have, on 5 April 2014.\n&#x2022; <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Individual Protection&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&#x2022; Individual Protection 2014: Where you have a valid Certificate from HMRC, the value of your benefits at the time they are crystallised, will be measured against a Lifetime Allowance at least equal to the total value of your benefits (between &#xA3;1,250,001 and &#xA3;1,500,000) in all registered pension schemes, and any relieved non-UK pension rights you have, on 5 April 2014.&amp;lt;br\/&amp;gt;&#x2022; Individual Protection 2016: Where you have a valid Reference from HMRC, the value of your benefits at the time they are crystallised, will be measured against a Lifetime Allowance at least equal to the total value of your benefits (between &#xA3;1,000,001 and &#xA3;1,250,000) in all registered pension schemes, and any relieved non-UK pension rights you have, on 5 April 2016.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&#x2022; Individual Protection 2014: Where you have a valid Certificate from HMRC, the value of your benefits at the time they are crystallised, will be measured against a Lifetime Allowance at least equal to the total value of your benefits (between &#xA3;1,250,001 and &#xA3;1,500,000) in all registered pension schemes, and any relieved non-UK pension rights you have, on 5 April 2014.&amp;lt;br\/&amp;gt;&#x2022; Individual Protection 2016: Where you have a valid Reference from HMRC, the value of your benefits at the time they are crystallised, will be measured against a Lifetime Allowance at least equal to the total value of your benefits (between &#xA3;1,000,001 and &#xA3;1,250,000) in all registered pension schemes, and any relieved non-UK pension rights you have, on 5 April 2016.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Individual Protection<\/span> 2016: Where you have a valid Reference from HMRC, the value of your benefits at the time they are crystallised, will be measured against a <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Lifetime Allowance&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Lifetime Allowance<\/span> at least equal to the total value of your benefits (between &#xA3;1,000,001 and &#xA3;1,250,000) in all registered pension schemes, and any relieved non-UK pension rights you have, on 5 April 2016.<\/dfn><\/li><li class=\" ln-8\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"I\"><span itemprop=\"name\">Initial Charges<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">These are fees that are levied against an account at the start of a contract for the initial <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Services&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This simply means the services provided by your Financial Adviser Firm, its Associates, your Discretionary Investment Manager or ourselves as the case may be.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This simply means the services provided by your Financial Adviser Firm, its Associates, your Discretionary Investment Manager or ourselves as the case may be.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>services<\/span> or administration provided.<\/dfn><\/li><li class=\" ln-8\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"I\"><span itemprop=\"name\">In specie<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">&lsquo;<span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;In specie&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&lsquo;In specie&rsquo; means transferring the ownership of an asset without the need to convert it into cash. It comes from a Latin phrase meaning &lsquo;in its actual form&rsquo;. In specie transfers involve the transfer of assets between two pension schemes, while in specie contributions involve the transfer of assets from an individual or company to a pension scheme. Assets involved need to be properly valued and assessed for suitability by the receiving scheme.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&lsquo;In specie&rsquo; means transferring the ownership of an asset without the need to convert it into cash. It comes from a Latin phrase meaning &lsquo;in its actual form&rsquo;. In specie transfers involve the transfer of assets between two pension schemes, while in specie contributions involve the transfer of assets from an individual or company to a pension scheme. Assets involved need to be properly valued and assessed for suitability by the receiving scheme.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>In specie<\/span>&rsquo; means transferring the ownership of an asset without the need to convert it into <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Cash&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>cash<\/span>. It comes from a Latin phrase meaning &lsquo;in its actual form&rsquo;. <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;In specie&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&lsquo;In specie&rsquo; means transferring the ownership of an asset without the need to convert it into cash. It comes from a Latin phrase meaning &lsquo;in its actual form&rsquo;. In specie transfers involve the transfer of assets between two pension schemes, while in specie contributions involve the transfer of assets from an individual or company to a pension scheme. Assets involved need to be properly valued and assessed for suitability by the receiving scheme.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&lsquo;In specie&rsquo; means transferring the ownership of an asset without the need to convert it into cash. It comes from a Latin phrase meaning &lsquo;in its actual form&rsquo;. In specie transfers involve the transfer of assets between two pension schemes, while in specie contributions involve the transfer of assets from an individual or company to a pension scheme. Assets involved need to be properly valued and assessed for suitability by the receiving scheme.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>In specie<\/span> transfers involve the transfer of assets between two pension schemes, while <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;In specie&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&lsquo;In specie&rsquo; means transferring the ownership of an asset without the need to convert it into cash. It comes from a Latin phrase meaning &lsquo;in its actual form&rsquo;. In specie transfers involve the transfer of assets between two pension schemes, while in specie contributions involve the transfer of assets from an individual or company to a pension scheme. Assets involved need to be properly valued and assessed for suitability by the receiving scheme.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&lsquo;In specie&rsquo; means transferring the ownership of an asset without the need to convert it into cash. It comes from a Latin phrase meaning &lsquo;in its actual form&rsquo;. In specie transfers involve the transfer of assets between two pension schemes, while in specie contributions involve the transfer of assets from an individual or company to a pension scheme. Assets involved need to be properly valued and assessed for suitability by the receiving scheme.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>in specie<\/span> contributions involve the transfer of assets from an individual or company to a pension scheme. Assets involved need to be properly valued and assessed for suitability by the receiving scheme.<\/dfn><\/li><li class=\" ln-8\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"I\"><span itemprop=\"name\">Instructions<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This means all <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Instructions&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This means all instructions received from you, your financial adviser, or Discretionary Investment Manager relating to an account that are not Trade Instructions.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This means all instructions received from you, your financial adviser, or Discretionary Investment Manager relating to an account that are not Trade Instructions.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">instructions<\/span> received from you, your <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Financial Adviser&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;An FCA-authorised adviser who provides financial advice to you, and who is an employee or contractor of a Financial Adviser Firm.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;An FCA-authorised adviser who provides financial advice to you, and who is an employee or contractor of a Financial Adviser Firm.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">financial adviser<\/span>, or <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Discretionary Investment Manager&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A Discretionary Investment Manager has your authority (discretion) to manage an investment portfolio on your behalf. A discretionary management service can deliver highly tailored investment portfolios based upon your individual circumstances and objectives. They do not need to inform you every time they make a change, although many parameters can be agreed at the outset. You can, for example, specify that you want to invest in only ethical stocks, or avoid exposure to certain other stocks.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A Discretionary Investment Manager has your authority (discretion) to manage an investment portfolio on your behalf. A discretionary management service can deliver highly tailored investment portfolios based upon your individual circumstances and objectives. They do not need to inform you every time they make a change, although many parameters can be agreed at the outset. You can, for example, specify that you want to invest in only ethical stocks, or avoid exposure to certain other stocks.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Discretionary Investment Manager<\/span> relating to an account that are not Trade <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Instructions&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This means all instructions received from you, your financial adviser, or Discretionary Investment Manager relating to an account that are not Trade Instructions.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This means all instructions received from you, your financial adviser, or Discretionary Investment Manager relating to an account that are not Trade Instructions.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Instructions<\/span>.<\/dfn><\/li><li class=\" ln-8\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"I\"><span itemprop=\"name\">Investment<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\"><span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Investment<\/span> is purchasing an asset with the expectation that it will grow in value, producing an income or both. <\/dfn><\/li><li class=\" ln-8\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"I\"><span itemprop=\"name\">Investment grade gold<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">Gold of a purity not less than 995 thousandths, which is in the form of a bar or a wafer of a weight accepted by the bullion markets.<\/dfn><\/li><li class=\" ln-8\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"I\"><span itemprop=\"name\">Investor Number<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">The client identification number that is issued by us and stated on the <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Confirmation Schedule&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is the schedule we send you that contains your account information, and which confirms we have accepted the application made on your behalf by your financial adviser to open an account with us.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is the schedule we send you that contains your account information, and which confirms we have accepted the application made on your behalf by your financial adviser to open an account with us.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Confirmation Schedule<\/span> and which is specific to you.<\/dfn><\/li><li class=\" ln-8\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"I\"><span itemprop=\"name\">ISA&#xA0; (Individual Savings Account)<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">An ISA is a savings account that allows you to save tax-free. There are four types of ISA: <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Cash&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>cash<\/span> ISAs, stocks and shares ISAs, innovative finance ISAs and lifetime ISAs. You can save into one type of ISA each tax year, and the maximum you can save into an ISA in this tax year is &pound;20,000.<\/dfn><\/li><li class=\" ln-9\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"J\"><span itemprop=\"name\">Joint Holder<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This means a client who holds an account with another person or persons.<\/dfn><\/li><li class=\" ln-9\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"J\"><span itemprop=\"name\">Junior<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This refers to a person who is aged under 18 years old.<\/dfn><\/li><li class=\" ln-10\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"K\"><span itemprop=\"name\">Key Features Document<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Key Features Document&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A Key Features Document is a document that financial companies are obliged to provide you when you buy certain regulated products. It sets out the aims, the risks and the benefits to you of purchasing or investing in the product as well as information on how it works.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A Key Features Document is a document that financial companies are obliged to provide you when you buy certain regulated products. It sets out the aims, the risks and the benefits to you of purchasing or investing in the product as well as information on how it works.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Key Features Document<\/span> is a document that financial companies are obliged to provide you when you buy certain regulated products. It sets out the aims, the risks and the benefits to you of purchasing or investing in the product as well as information on how it works.<\/dfn><\/li><li class=\" ln-11\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"L\"><span itemprop=\"name\">Lien<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A right to keep possession of assets belonging to the client until any <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Charges&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This refers to Platform Charges,&nbsp; SIPP or Pension Scheme Charges, Adviser Charges, Discretionary Investment Manager Model Portfolio Charges, transaction charges, account fees &ndash; and any other applicable charges that may&nbsp; be incurred by the client from time to time.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This refers to Platform Charges,&nbsp; SIPP or Pension Scheme Charges, Adviser Charges, Discretionary Investment Manager Model Portfolio Charges, transaction charges, account fees &ndash; and any other applicable charges that may&nbsp; be incurred by the client from time to time.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>charges<\/span> or outstanding monies owed by the client have been paid.<\/dfn><\/li><li class=\" ln-11\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"L\"><span itemprop=\"name\">Lifetime Allowance<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Lifetime Allowance&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Lifetime Allowance<\/span>. The <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Lifetime Allowance&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Lifetime Allowance<\/span> details are available on the HMRC&#x2019;s website here.<\/dfn><\/li><li class=\" ln-11\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"L\"><span itemprop=\"name\">Lifetime Allowance Enhancement<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is a multiplier that can be applied for with HMRC , which increases your <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Lifetime Allowance&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Lifetime Allowance<\/span> and effectively protects some of your pension savings, for example those that originated from a <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Pension Credit&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A pension credit is the receipt of pension assets that is assigned to you following a pension sharing order from your ex-spouse or former civil partner.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A pension credit is the receipt of pension assets that is assigned to you following a pension sharing order from your ex-spouse or former civil partner.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">pension credit<\/span>.<\/dfn><\/li><li class=\" ln-11\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"L\"><span itemprop=\"name\">Lifetime Allowance Enhancement Factors<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">Factors are based on the value of the funds to be protected (e.g. the value of the pension) and calculated as a portion of the <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Standard Lifetime Allowance&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;The statutory Lifetime Allowance that applies to a Benefit Crystallisation Event in a particular tax year unless you have a valid certificate or reference from HMRC for a higher Lifetime Allowance.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;The statutory Lifetime Allowance that applies to a Benefit Crystallisation Event in a particular tax year unless you have a valid certificate or reference from HMRC for a higher Lifetime Allowance.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">standard Lifetime Allowance<\/span>. The result is to essentially exempt those funds from the <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Lifetime Allowance&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Lifetime Allowance<\/span>.\nWhere you have a valid Certificate from HMRC, your <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Lifetime Allowance&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Lifetime Allowance<\/span> is increased because you:\n\n&#x2022; acquired a <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Pension Credit&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A pension credit is the receipt of pension assets that is assigned to you following a pension sharing order from your ex-spouse or former civil partner.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A pension credit is the receipt of pension assets that is assigned to you following a pension sharing order from your ex-spouse or former civil partner.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">pension credit<\/span> under a pension sharing order on divorce before 6 April 2006,\n&#x2022; acquired a <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Disqualifying pension credit&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Where a pension credit (under a pension sharing order) came from pension benefits that were already crystallised, meaning no pension commencement lump sum\/ tax free cash can be paid when the receiving member puts their benefits in to payment.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Where a pension credit (under a pension sharing order) came from pension benefits that were already crystallised, meaning no pension commencement lump sum\/ tax free cash can be paid when the receiving member puts their benefits in to payment.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">disqualifying pension credit<\/span> under a pension sharing order on divorce after 5 April 2006,\n&#x2022; accrued certain benefits in a <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Registered Pension Scheme&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A pension scheme that is registered by HMRC under Chapter 2 of Part 4 of the Finance Act 2004. Having a pension scheme registered means it can benefit from certain tax reliefs and exemptions.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A pension scheme that is registered by HMRC under Chapter 2 of Part 4 of the Finance Act 2004. Having a pension scheme registered means it can benefit from certain tax reliefs and exemptions.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">registered pension scheme<\/span> during a period when you were abroad and you were not a <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Relevant UK Individual&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is an individual who, for a tax year:&amp;lt;br\/&amp;gt;&#x2022; has relevant UK earnings subject to income tax (see Relevant UK Earnings)&amp;lt;br&amp;gt;&#x2022; is resident in the UK at some time during that year&amp;lt;br&amp;gt;&#x2022; was resident in the UK both at some time during the previous five tax years and when the individual became a member of the pension scheme&amp;lt;br&amp;gt;&#x2022; has, or whose spouse or civil partner has, general earnings from overseas Crown employment subject to UK tax.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is an individual who, for a tax year:&amp;lt;br\/&amp;gt;&#x2022; has relevant UK earnings subject to income tax (see Relevant UK Earnings)&amp;lt;br&amp;gt;&#x2022; is resident in the UK at some time during that year&amp;lt;br&amp;gt;&#x2022; was resident in the UK both at some time during the previous five tax years and when the individual became a member of the pension scheme&amp;lt;br&amp;gt;&#x2022; has, or whose spouse or civil partner has, general earnings from overseas Crown employment subject to UK tax.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">relevant UK individual<\/span>. Or if you were, it was only because you were resident in the UK at some time during the previous five tax years and you were also resident in the UK when you joined the pension scheme and you were not employed by a UK resident <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Employer&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is any company of which you are, or have been, an employee or a director. It also includes any other person to whom you are, or have been, an employee.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is any company of which you are, or have been, an employee or a director. It also includes any other person to whom you are, or have been, an employee.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>employer<\/span>,\n&bull; transferred benefits accrued in a QROPS which have not received UK tax relief to a <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Registered Pension Scheme&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A pension scheme that is registered by HMRC under Chapter 2 of Part 4 of the Finance Act 2004. Having a pension scheme registered means it can benefit from certain tax reliefs and exemptions.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A pension scheme that is registered by HMRC under Chapter 2 of Part 4 of the Finance Act 2004. Having a pension scheme registered means it can benefit from certain tax reliefs and exemptions.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">registered pension scheme<\/span><\/dfn><\/li><li class=\" ln-11\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"L\"><span itemprop=\"name\">Lifetime Allowance excess<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is the amount by which your pension funds exceed your remaining <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Lifetime Allowance&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Lifetime Allowance<\/span> at any Benefit Crystallisation Event.<\/dfn><\/li><li class=\" ln-11\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"L\"><span itemprop=\"name\">Lifetime Annuity<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is an <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Annuity&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A guaranteed income paid to a member for the rest of their life. An Annuity can be for a fixed or increasing amount, and may include a guarantee period and\/or a secondary income payable to a spouse for the remainder of their life following the death of the member.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A guaranteed income paid to a member for the rest of their life. An Annuity can be for a fixed or increasing amount, and may include a guarantee period and\/or a secondary income payable to a spouse for the remainder of their life following the death of the member.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>annuity<\/span> contract purchased under a money purchase arrangement from an insurance company that provides you with an income for life.<\/dfn><\/li><li class=\" ln-11\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"L\"><span itemprop=\"name\">Limited Partnership<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Limited Partnership&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A Limited Partnership (LP) exists when two or more partners go into business together, but the partners are only liable up to the amount of their investment. An LP is defined as having limited partners and a general partner, who has unlimited liability.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A Limited Partnership (LP) exists when two or more partners go into business together, but the partners are only liable up to the amount of their investment. An LP is defined as having limited partners and a general partner, who has unlimited liability.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Limited Partnership<\/span> (LP) exists when two or more partners go into business together, but the partners are only liable up to the amount of their <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span>. An LP is defined as having limited partners and a general partner, who has unlimited liability.<\/dfn><\/li><li class=\" ln-12\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"M\"><span itemprop=\"name\">Market Spot Rate<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">Spot rates are the current exchange rates at which specific currencies can be bought or sold on currency exchange markets. They are the &#x2018;right now&#x2019; rate for any given currency.<\/dfn><\/li><li class=\" ln-12\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"M\"><span itemprop=\"name\">Market value<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\"><span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Market value&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Market value is used to describe how much an asset or company is currently worth on the open market.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Market value is used to describe how much an asset or company is currently worth on the open market.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Market value<\/span> is used to describe how much an asset or company is currently worth on the open market.<\/dfn><\/li><li class=\" ln-12\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"M\"><span itemprop=\"name\">Mid-price<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">The average price between the best offer price of the sellers of an asset and the best bid price of the buyers of that asset.<\/dfn><\/li><li class=\" ln-12\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"M\"><span itemprop=\"name\">Model Portfolios<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">These are tailored <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> portfolios made up of a range of assets. They aim to achieve a particular <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> objective and reflect a specified attitude to <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> risk.<\/dfn><\/li><li class=\" ln-12\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"M\"><span itemprop=\"name\">Money Purchase Annual Allowance<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is the amount of money you can pay into your pension pot every year without incurring a tax charge. It is currently &#xA3;10,000.<\/dfn><\/li><li class=\" ln-12\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"M\"><span itemprop=\"name\">Money Purchase Occupational Pension Scheme<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">The employee and <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Employer&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is any company of which you are, or have been, an employee or a director. It also includes any other person to whom you are, or have been, an employee.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is any company of which you are, or have been, an employee or a director. It also includes any other person to whom you are, or have been, an employee.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>employer<\/span> agree on a set contribution level during employment (usually a percentage of salary). The contributions are invested at the discretion of the employee to build up a retirement fund. The pension at retirement isn&rsquo;t guaranteed as it would be in a defined benefit\/final salary scheme, but is instead based on the value of the pot at retirement.<\/dfn><\/li><li class=\" ln-12\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"M\"><span itemprop=\"name\">Money purchase scheme<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This broadly means a pension fund built up from payments (such as contributions and transfers from other pension schemes) and any associated <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> growth. The amount of the benefits you or a <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Beneficiary&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Any party entitled to death benefits, including any individual who is your dependant, nominee or successor.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Any party entitled to death benefits, including any individual who is your dependant, nominee or successor.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">beneficiary<\/span> will receive will depend on the value of the fund.<\/dfn><\/li><li class=\" ln-12\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"M\"><span itemprop=\"name\">Multi-Asset Fund<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">An <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> solution that seeks to help manage risk by holding a broad range of asset classes, so a loss suffered by one asset doesn't have a disproportionate impact on the overall <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Performance&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is an investment&#x2019;s level of growth over time. This is often referred to as the investment&amp;#039;s returns and is measured by the percentage change of the investment&amp;#039;s value over time.&amp;lt;br\/&amp;gt;&#x2022; Annualised performance is the percentage movement (return) of an investment over a defined time period, calculated as an average per annum.&amp;lt;br&amp;gt;&#x2022; Cumulative performance is the total percentage movement in the price of the asset over the whole of any specified period, be it one\/three\/five years for example, or since an investment commenced.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is an investment&#x2019;s level of growth over time. This is often referred to as the investment&amp;#039;s returns and is measured by the percentage change of the investment&amp;#039;s value over time.&amp;lt;br\/&amp;gt;&#x2022; Annualised performance is the percentage movement (return) of an investment over a defined time period, calculated as an average per annum.&amp;lt;br&amp;gt;&#x2022; Cumulative performance is the total percentage movement in the price of the asset over the whole of any specified period, be it one\/three\/five years for example, or since an investment commenced.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">performance<\/span> of your portfolio. The most common asset classes include company shares, bonds and <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Cash&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>cash<\/span>.<\/dfn><\/li><li class=\" ln-12\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"M\"><span itemprop=\"name\">Mutual Funds<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A mutual fund is a professionally managed <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Collective Investment Scheme&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A Collective Investment Scheme is a professionally managed fund  which combines the money of a broad range of investors in a single investment vehicle, more commonly known as &amp;#039;investment funds&amp;#039;, &amp;#039;mutual funds&amp;#039; or just &amp;#039;funds&amp;#039;.&#xA0;They invest in assets, such as bonds, equities or cash.&#xA0;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A Collective Investment Scheme is a professionally managed fund  which combines the money of a broad range of investors in a single investment vehicle, more commonly known as &amp;#039;investment funds&amp;#039;, &amp;#039;mutual funds&amp;#039; or just &amp;#039;funds&amp;#039;.&#xA0;They invest in assets, such as bonds, equities or cash.&#xA0;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">collective investment scheme<\/span> that pools money from many investors.<\/dfn><\/li><li class=\" ln-13\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"N\"><span itemprop=\"name\">Natural Person Identifier<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">The means by which national authorities identify an individual,in the UK this would your National Insurance Number.<\/dfn><\/li><li class=\" ln-13\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"N\"><span itemprop=\"name\">Nominee<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">An individual who is not your <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Dependant&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Dependant refers to a person who, at the time of your death:&amp;lt;br\/&amp;gt;&bull; is married to you, or is your civil partner,&amp;lt;br&amp;gt;&bull; was married to you, or was your civil partner, when you first became entitled to a pension under your SIPP,&amp;lt;br&amp;gt;&bull; a child of yours who has not attained age 23,&amp;lt;br&amp;gt;&bull; a child who, in the opinion of the scheme administrator, was dependent on you because of physical or mental impairment (whatever the child&rsquo;s age),&amp;lt;br&amp;gt;&bull; a child of yours who was already receiving dependants&rsquo; drawdown and who reached their 23rd birthday on or after 16 September 2016,&amp;lt;br&amp;gt;&bull; any other person (not married to you, not your civil partner, nor your child) who, in the opinion of the scheme administrator: &amp;lt;br&amp;gt;a. was financially dependent on you, &amp;lt;br&amp;gt;b. you and the person were financially dependent on each other,&amp;lt;br&amp;gt;c. the person was dependent on you because of mental or physical impairment.&amp;lt;br&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Dependant refers to a person who, at the time of your death:&amp;lt;br\/&amp;gt;&bull; is married to you, or is your civil partner,&amp;lt;br&amp;gt;&bull; was married to you, or was your civil partner, when you first became entitled to a pension under your SIPP,&amp;lt;br&amp;gt;&bull; a child of yours who has not attained age 23,&amp;lt;br&amp;gt;&bull; a child who, in the opinion of the scheme administrator, was dependent on you because of physical or mental impairment (whatever the child&rsquo;s age),&amp;lt;br&amp;gt;&bull; a child of yours who was already receiving dependants&rsquo; drawdown and who reached their 23rd birthday on or after 16 September 2016,&amp;lt;br&amp;gt;&bull; any other person (not married to you, not your civil partner, nor your child) who, in the opinion of the scheme administrator: &amp;lt;br&amp;gt;a. was financially dependent on you, &amp;lt;br&amp;gt;b. you and the person were financially dependent on each other,&amp;lt;br&amp;gt;c. the person was dependent on you because of mental or physical impairment.&amp;lt;br&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>dependant<\/span> but who you have nominated to receive a <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Drawdown Pension&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A method of taking benefits from your pension, whereby your assets remain invested and your pension income comes from your invested funds or by cashing in some assets within your pension.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A method of taking benefits from your pension, whereby your assets remain invested and your pension income comes from your invested funds or by cashing in some assets within your pension.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">drawdown pension<\/span> and\/or <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Annuity&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A guaranteed income paid to a member for the rest of their life. An Annuity can be for a fixed or increasing amount, and may include a guarantee period and\/or a secondary income payable to a spouse for the remainder of their life following the death of the member.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A guaranteed income paid to a member for the rest of their life. An Annuity can be for a fixed or increasing amount, and may include a guarantee period and\/or a secondary income payable to a spouse for the remainder of their life following the death of the member.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>annuity<\/span> payments in the event of your death. The <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Scheme Administrator&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;The person(s) responsible for the discharge of the functions of the pension scheme.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;The person(s) responsible for the discharge of the functions of the pension scheme.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Scheme Administrator<\/span> may also nominate a <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Nominee&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;An individual who is not your dependant but who you have nominated to receive a drawdown pension and\/or annuity payments in the event of your death. The Scheme Administrator may also nominate a nominee &ndash; but only where you have no surviving dependants or nominees and you did not nominate a charity.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;An individual who is not your dependant but who you have nominated to receive a drawdown pension and\/or annuity payments in the event of your death. The Scheme Administrator may also nominate a nominee &ndash; but only where you have no surviving dependants or nominees and you did not nominate a charity.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>nominee<\/span> &ndash; but only where you have no surviving dependants or nominees and you did not nominate a <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Charity&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A body or trust established for charitable purposes that is recognised by HMRC as a charity for tax purposes.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A body or trust established for charitable purposes that is recognised by HMRC as a charity for tax purposes.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>charity<\/span>.<\/dfn><\/li><li class=\" ln-13\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"N\"><span itemprop=\"name\">Non-Standard Asset<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">Any asset that is not a <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Standard Asset&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;An asset that can be realised within 30 days and includes any of the following:&amp;lt;br\/&amp;gt;&#x2022; bank account deposits&amp;lt;br&amp;gt;&#x2022; cash&amp;lt;br&amp;gt;&#x2022; cash funds&amp;lt;br&amp;gt;&#x2022; exchange traded commodities&amp;lt;br&amp;gt;&#x2022; government and local authority bonds and other fixed interest stocks&amp;lt;br&amp;gt;&#x2022; investment notes (structured products)&amp;lt;br&amp;gt;&#x2022; shares in investment trusts &amp;lt;br&amp;gt;&#x2022; managed pension funds &amp;lt;br&amp;gt;&#x2022; National Savings and Investment products&amp;lt;br&amp;gt;&#x2022; permanent interest-bearing shares (PIBs)&amp;lt;br&amp;gt;&#x2022; Physical gold bullion&amp;lt;br&amp;gt;&#x2022; real estate investment trusts (REITs)&amp;lt;br&amp;gt;&#x2022; securities admitted to trading on a regulated venue&amp;lt;br&amp;gt;&#x2022; units in regulated collective investment schemes&amp;lt;br&amp;gt;&#x2022; UK commercial property.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;An asset that can be realised within 30 days and includes any of the following:&amp;lt;br\/&amp;gt;&#x2022; bank account deposits&amp;lt;br&amp;gt;&#x2022; cash&amp;lt;br&amp;gt;&#x2022; cash funds&amp;lt;br&amp;gt;&#x2022; exchange traded commodities&amp;lt;br&amp;gt;&#x2022; government and local authority bonds and other fixed interest stocks&amp;lt;br&amp;gt;&#x2022; investment notes (structured products)&amp;lt;br&amp;gt;&#x2022; shares in investment trusts &amp;lt;br&amp;gt;&#x2022; managed pension funds &amp;lt;br&amp;gt;&#x2022; National Savings and Investment products&amp;lt;br&amp;gt;&#x2022; permanent interest-bearing shares (PIBs)&amp;lt;br&amp;gt;&#x2022; Physical gold bullion&amp;lt;br&amp;gt;&#x2022; real estate investment trusts (REITs)&amp;lt;br&amp;gt;&#x2022; securities admitted to trading on a regulated venue&amp;lt;br&amp;gt;&#x2022; units in regulated collective investment schemes&amp;lt;br&amp;gt;&#x2022; UK commercial property.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Standard Asset<\/span>. Examples of Non-Standard Assets are:\n&#x2022; bank account deposits that cannot be realised within 30 days, \n&#x2022; shares in unquoted companies that are not connected with you, \n&#x2022; unregulated collective <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> schemes (UCISs).<\/dfn><\/li><li class=\" ln-13\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"N\"><span itemprop=\"name\">Normal Minimum Pension Age (NMPA)<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is the minimum age you usually must be before you can start to take money from your pension. It is set by the government and is currently 55 years old but will rise to 57 on the 6th April 2028. It isn&#x2019;t the same as your pension retirement age, which is the age at which you choose to retire.<\/dfn><\/li><li class=\" ln-14\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"O\"><span itemprop=\"name\">Occupational scheme<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is also known as a company pension, or workplace pension. It is a pension set up by employers to help employees save for their retirement. Both employee and <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Employer&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is any company of which you are, or have been, an employee or a director. It also includes any other person to whom you are, or have been, an employee.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is any company of which you are, or have been, an employee or a director. It also includes any other person to whom you are, or have been, an employee.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>employer<\/span> contribute to the pension.<\/dfn><\/li><li class=\" ln-14\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"O\"><span itemprop=\"name\">Offshore Bond\/International Bond<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">An offshore <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Bond&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A bond represents a loan between an investor and a borrower.  When you invest in a bond, you&rsquo;re agreeing to loan your money, usually to a government or company for a specific period. In exchange, you&rsquo;ll receive regular interest payments until the bond matures and the loan is fully repaid at the end. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A bond represents a loan between an investor and a borrower.  When you invest in a bond, you&rsquo;re agreeing to loan your money, usually to a government or company for a specific period. In exchange, you&rsquo;ll receive regular interest payments until the bond matures and the loan is fully repaid at the end. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>bond<\/span>, or international <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Bond&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A bond represents a loan between an investor and a borrower.  When you invest in a bond, you&rsquo;re agreeing to loan your money, usually to a government or company for a specific period. In exchange, you&rsquo;ll receive regular interest payments until the bond matures and the loan is fully repaid at the end. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A bond represents a loan between an investor and a borrower.  When you invest in a bond, you&rsquo;re agreeing to loan your money, usually to a government or company for a specific period. In exchange, you&rsquo;ll receive regular interest payments until the bond matures and the loan is fully repaid at the end. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>bond<\/span>, is simply a tax-efficient <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> device that is issued by companies outside of UK jurisdiction. Offshore Bonds are a tax-efficient way for you to invest money over the medium to long-term (five years or more).<\/dfn><\/li><li class=\" ln-14\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"O\"><span itemprop=\"name\">Open-Ended Investment Company (OEIC)<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">An OEIC, is a type of collective or pooled <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> fund in the UK. Money from many investors is pooled together, and professional fund managers will buy securities such as stocks, bonds, and property according to an <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> strategy.<\/dfn><\/li><li class=\" ln-14\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"O\"><span itemprop=\"name\">Open Market Option<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is the right for customers approaching retirement to shop around for several options to convert their pension pot or savings into a source of income, rather than simply taking the default option offered by their pension provider.<\/dfn><\/li><li class=\" ln-15\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"P\"><span itemprop=\"name\">Pension Commencement Lump Sum (PCLS)<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">An amount of <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Cash&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>cash<\/span> set by law that you can take at retirement free of tax. It&rsquo;s usually up to 25% of your pension fund and limited to a maximum of &pound;268,275, (but it can be higher if certain protections are held).<\/dfn><\/li><li class=\" ln-15\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"P\"><span itemprop=\"name\">Pension Credit<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Pension Credit&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A pension credit is the receipt of pension assets that is assigned to you following a pension sharing order from your ex-spouse or former civil partner.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A pension credit is the receipt of pension assets that is assigned to you following a pension sharing order from your ex-spouse or former civil partner.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">pension credit<\/span> is the receipt of pension assets that is assigned to you following a pension sharing order from your ex-spouse or former civil partner.<\/dfn><\/li><li class=\" ln-15\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"P\"><span itemprop=\"name\">Pension Credit Factor<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">The <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Pension Credit Factor&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;The pension credit factor is the fraction of the standard lifetime allowance relating to a Pension credit.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;The pension credit factor is the fraction of the standard lifetime allowance relating to a Pension credit.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">pension credit factor<\/span> is the fraction of the <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Standard Lifetime Allowance&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;The statutory Lifetime Allowance that applies to a Benefit Crystallisation Event in a particular tax year unless you have a valid certificate or reference from HMRC for a higher Lifetime Allowance.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;The statutory Lifetime Allowance that applies to a Benefit Crystallisation Event in a particular tax year unless you have a valid certificate or reference from HMRC for a higher Lifetime Allowance.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">standard lifetime allowance<\/span> relating to a <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Pension Credit&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A pension credit is the receipt of pension assets that is assigned to you following a pension sharing order from your ex-spouse or former civil partner.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A pension credit is the receipt of pension assets that is assigned to you following a pension sharing order from your ex-spouse or former civil partner.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Pension credit<\/span>.<\/dfn><\/li><li class=\" ln-15\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"P\"><span itemprop=\"name\">Pension input period<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">The period in which pension contributions are made by you, or for you, to registered pension schemes and relieved non-UK pension schemes of which you are a member. From 2016 all pension input periods are aligned with the UK tax year (6th April to 5th April the following year) and cannot be changed.<\/dfn><\/li><li class=\" ln-15\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"P\"><span itemprop=\"name\">Pension Protection Certificates<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is a certificate provided by HMRC confirming the type and level of protection a member holds in relation to their pension schemes.<\/dfn><\/li><li class=\" ln-15\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"P\"><span itemprop=\"name\">Pension Recycling<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\"><span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Pension Recycling&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Pension recycling is&#xA0;when someone uses tax-free cash from a pension (when they take benefits) to then make a further pension contribution to receive tax relief. HMRC now limit the amount of tax relief a person can claim when tax-free cash is recycled into a pension.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Pension recycling is&#xA0;when someone uses tax-free cash from a pension (when they take benefits) to then make a further pension contribution to receive tax relief. HMRC now limit the amount of tax relief a person can claim when tax-free cash is recycled into a pension.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Pension recycling<\/span> is&nbsp;when someone uses tax-free <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Cash&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>cash<\/span> from a pension (when they take benefits) to then make a further pension contribution to receive tax relief. HMRC now limit the amount of tax relief a person can claim when tax-free <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Cash&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>cash<\/span> is recycled into a pension.<\/dfn><\/li><li class=\" ln-15\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"P\"><span itemprop=\"name\">Pension Sharing Order (PSO)<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">Pension Sharing can come into effect with a divorce or the dissolution of a civil partnership. It provides a clean break between parties as the pension assets are split immediately and each party can decide what to do with their share independently. A court issues a pension sharing order stating how much of the pension the ex-spouse or ex-partner is entitled to receive.<\/dfn><\/li><li class=\" ln-15\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"P\"><span itemprop=\"name\">Pensions Relief at Source<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A way of giving basic rate tax relief on contributions you make to your pension scheme.<\/dfn><\/li><li class=\" ln-15\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"P\"><span itemprop=\"name\">Pension Trust<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A trust is a legal arrangement under which trustees hold the assets of the pension scheme in a trust fund for the benefit of the members of the scheme and their dependants, and for the main purpose of providing income in retirement.<\/dfn><\/li><li class=\" ln-15\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"P\"><span itemprop=\"name\">Performance<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is an <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span>&#x2019;s level of growth over time. This is often referred to as the <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span>'s returns and is measured by the percentage change of the <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span>'s value over time.\n&#x2022; Annualised <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Performance&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is an investment&#x2019;s level of growth over time. This is often referred to as the investment&amp;#039;s returns and is measured by the percentage change of the investment&amp;#039;s value over time.&amp;lt;br\/&amp;gt;&#x2022; Annualised performance is the percentage movement (return) of an investment over a defined time period, calculated as an average per annum.&amp;lt;br&amp;gt;&#x2022; Cumulative performance is the total percentage movement in the price of the asset over the whole of any specified period, be it one\/three\/five years for example, or since an investment commenced.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is an investment&#x2019;s level of growth over time. This is often referred to as the investment&amp;#039;s returns and is measured by the percentage change of the investment&amp;#039;s value over time.&amp;lt;br\/&amp;gt;&#x2022; Annualised performance is the percentage movement (return) of an investment over a defined time period, calculated as an average per annum.&amp;lt;br&amp;gt;&#x2022; Cumulative performance is the total percentage movement in the price of the asset over the whole of any specified period, be it one\/three\/five years for example, or since an investment commenced.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">performance<\/span> is the percentage movement (return) of an <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> over a defined time period, calculated as an average per annum.\n&#x2022; Cumulative <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Performance&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is an investment&#x2019;s level of growth over time. This is often referred to as the investment&amp;#039;s returns and is measured by the percentage change of the investment&amp;#039;s value over time.&amp;lt;br\/&amp;gt;&#x2022; Annualised performance is the percentage movement (return) of an investment over a defined time period, calculated as an average per annum.&amp;lt;br&amp;gt;&#x2022; Cumulative performance is the total percentage movement in the price of the asset over the whole of any specified period, be it one\/three\/five years for example, or since an investment commenced.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is an investment&#x2019;s level of growth over time. This is often referred to as the investment&amp;#039;s returns and is measured by the percentage change of the investment&amp;#039;s value over time.&amp;lt;br\/&amp;gt;&#x2022; Annualised performance is the percentage movement (return) of an investment over a defined time period, calculated as an average per annum.&amp;lt;br&amp;gt;&#x2022; Cumulative performance is the total percentage movement in the price of the asset over the whole of any specified period, be it one\/three\/five years for example, or since an investment commenced.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">performance<\/span> is the total percentage movement in the price of the asset over the whole of any specified period, be it one\/three\/five years for example, or since an <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> commenced.<\/dfn><\/li><li class=\" ln-15\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"P\"><span itemprop=\"name\">Platform Charges<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">These are the costs associated with running and maintaining a platform that handles all a customer&#x2019;s <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Instructions&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This means all instructions received from you, your financial adviser, or Discretionary Investment Manager relating to an account that are not Trade Instructions.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This means all instructions received from you, your financial adviser, or Discretionary Investment Manager relating to an account that are not Trade Instructions.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">instructions<\/span>, payments, withdrawals etc.<\/dfn><\/li><li class=\" ln-15\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"P\"><span itemprop=\"name\">Pooled Account<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is a single bank account into which <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Cash&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>cash<\/span> deposits for Account holders are received and held jointly as part of a &lsquo;pool&rsquo;.<\/dfn><\/li><li class=\" ln-15\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"P\"><span itemprop=\"name\">Power of Attorney<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is a written document which grants someone the legal authority to act for another person in certain (or all) legal and financial matters.<\/dfn><\/li><li class=\" ln-15\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"P\"><span itemprop=\"name\">Pre-Commencement Pension<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">The level of pension your fund could potentially sustain before you take your <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Pension Commencement Lump Sum (PCLS)&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;An amount of cash set by law that you can take at retirement free of tax. It&#x2019;s usually up to 25% of your pension fund and limited to a maximum of &#xA3;268,275, (but it can be higher if certain protections are held).&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;An amount of cash set by law that you can take at retirement free of tax. It&#x2019;s usually up to 25% of your pension fund and limited to a maximum of &#xA3;268,275, (but it can be higher if certain protections are held).&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Pension Commencement Lump Sum (PCLS)<\/span>. After you have taken your PCLS, the value of your fund will reduce by the amount you have taken, and therefore the amount of pension your fund could potentially sustain also reduces.<\/dfn><\/li><li class=\" ln-15\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"P\"><span itemprop=\"name\">Professional Trustee<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Professional Trustee&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A professional trustee is a person or company, who act as trustee of a pension scheme or trust. The person or company is not a beneficiary of the scheme, or is entitled to share any of the assets in the scheme.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A professional trustee is a person or company, who act as trustee of a pension scheme or trust. The person or company is not a beneficiary of the scheme, or is entitled to share any of the assets in the scheme.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">professional trustee<\/span> is a person or company, who act as trustee of a pension scheme or trust. The person or company is not a <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Beneficiary&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Any party entitled to death benefits, including any individual who is your dependant, nominee or successor.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Any party entitled to death benefits, including any individual who is your dependant, nominee or successor.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">beneficiary<\/span> of the scheme, or is entitled to share any of the assets in the scheme.<\/dfn><\/li><li class=\" ln-15\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"P\"><span itemprop=\"name\">Protected Retirement Age<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is where an individual is entitled to a retirement age lower than the normal minimum pension age for registered pension schemes (currently 55).<\/dfn><\/li><li class=\" ln-16\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"Q\"><span itemprop=\"name\">Qualifying Recognised Overseas Pension Scheme<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Qualifying Recognised Overseas Pension Scheme&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A Qualifying Recognised Overseas Pension Scheme is an overseas pension Scheme that meets certain requirements set by HMRC and can receive transfers of UK pension benefits without incurring an Unauthorised Payment and Scheme Sanction Charge. The purpose of QROPS, when introduced back in 2006, was to allow individuals moving overseas to be able to take their pension with them.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A Qualifying Recognised Overseas Pension Scheme is an overseas pension Scheme that meets certain requirements set by HMRC and can receive transfers of UK pension benefits without incurring an Unauthorised Payment and Scheme Sanction Charge. The purpose of QROPS, when introduced back in 2006, was to allow individuals moving overseas to be able to take their pension with them.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Qualifying Recognised Overseas Pension Scheme<\/span> is an overseas pension Scheme that meets certain requirements set by HMRC and can receive transfers of UK pension benefits without incurring an <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Unauthorised Payment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A payment by a registered pension scheme that is not permitted by rules contained in the Finance Act 2004. For example, the payment of a pension before minimum pension age would be considered an unauthorised payment unless the member is in ill-health.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A payment by a registered pension scheme that is not permitted by rules contained in the Finance Act 2004. For example, the payment of a pension before minimum pension age would be considered an unauthorised payment unless the member is in ill-health.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Unauthorised Payment<\/span> and <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Scheme Sanction Charge&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;HMRC tax rules specify the rules that need to be met for payments to be authorised. Any payment that doesn&#x2019;t meet these rules is classified as an unauthorised payment and therefore liable to a Scheme Sanction Charge.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;HMRC tax rules specify the rules that need to be met for payments to be authorised. Any payment that doesn&#x2019;t meet these rules is classified as an unauthorised payment and therefore liable to a Scheme Sanction Charge.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Scheme Sanction Charge<\/span>. The purpose of QROPS, when introduced back in 2006, was to allow individuals moving overseas to be able to take their pension with them.<\/dfn><\/li><li class=\" ln-17\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"R\"><span itemprop=\"name\">Real Time Information (RTI)<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\"><span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Real Time Information (RTI)&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Real Time Information (RTI) is a system of PAYE reporting that started in April 2013. Under RTI, pension providers must send information to HMRC each time they pay their members any taxable income. This enables HMRC to keep more accurate records and to ensure that over time people pay the correct tax. As Embark Pensions makes one submission to HMRC each month in respect of any member income payments we have made, this means that all members must be paid on the same day so that the information is reported in real time.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Real Time Information (RTI) is a system of PAYE reporting that started in April 2013. Under RTI, pension providers must send information to HMRC each time they pay their members any taxable income. This enables HMRC to keep more accurate records and to ensure that over time people pay the correct tax. As Embark Pensions makes one submission to HMRC each month in respect of any member income payments we have made, this means that all members must be paid on the same day so that the information is reported in real time.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Real Time Information (RTI)<\/span> is a system of PAYE reporting that started in April 2013. Under RTI, pension providers must send information to HMRC each time they pay their members any taxable income. This enables HMRC to keep more accurate records and to ensure that over time people pay the correct tax. As Embark Pensions makes one submission to HMRC each month in respect of any member income payments we have made, this means that all members must be paid on the same day so that the information is reported in real time.<\/dfn><\/li><li class=\" ln-17\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"R\"><span itemprop=\"name\">Recognised Overseas Transfer Factor<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">The <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Recognised Overseas Transfer Factor&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;The recognised overseas transfer factor is an enhancement given by HMRC when someone transfers funds from a recognised overseas pension scheme (ROPS) into a UK-based scheme, and can potentially increase their Lifetime Allowance.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;The recognised overseas transfer factor is an enhancement given by HMRC when someone transfers funds from a recognised overseas pension scheme (ROPS) into a UK-based scheme, and can potentially increase their Lifetime Allowance.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">recognised overseas transfer factor<\/span> is an enhancement given by HMRC when someone transfers funds from a recognised overseas pension scheme (ROPS) into a UK-based scheme, and can potentially increase their <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Lifetime Allowance&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Lifetime Allowance<\/span>.<\/dfn><\/li><li class=\" ln-17\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"R\"><span itemprop=\"name\">Registered Contact<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A person who will give us, or their <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Financial Adviser&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;An FCA-authorised adviser who provides financial advice to you, and who is an employee or contractor of a Financial Adviser Firm.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;An FCA-authorised adviser who provides financial advice to you, and who is an employee or contractor of a Financial Adviser Firm.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Financial Adviser<\/span>, <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Instructions&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This means all instructions received from you, your financial adviser, or Discretionary Investment Manager relating to an account that are not Trade Instructions.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This means all instructions received from you, your financial adviser, or Discretionary Investment Manager relating to an account that are not Trade Instructions.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">instructions<\/span> or Trade <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Instructions&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This means all instructions received from you, your financial adviser, or Discretionary Investment Manager relating to an account that are not Trade Instructions.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This means all instructions received from you, your financial adviser, or Discretionary Investment Manager relating to an account that are not Trade Instructions.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Instructions<\/span> with respect to the administration of the Embark JISA. This person must be accepted by us as being:\n&#x2022; over the age of 18 and the parent or person with parental responsibility for the child, \n&#x2022; a local authority if the child is in care, or \n&#x2022; the child if the child meets the relevant requirements in the ISA Regulations.<\/dfn><\/li><li class=\" ln-17\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"R\"><span itemprop=\"name\">Registered Pension Scheme<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A pension scheme that is registered by HMRC under Chapter 2 of Part 4 of the Finance Act 2004. Having a pension scheme registered means it can benefit from certain tax reliefs and exemptions.<\/dfn><\/li><li class=\" ln-17\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"R\"><span itemprop=\"name\">Relevant UK earnings<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\"><span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Relevant UK earnings&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Relevant UK earnings means any one or more of the following types of income:&amp;lt;br\/&amp;gt;&#x2022; employment income such as pay, wages, bonus, overtime, or commission and other P11D benefits.&amp;lt;br&amp;gt;&#x2022; income from self-employment or a partnership.&amp;lt;br&amp;gt;&#x2022; redundancy payment above the &#xA3;30,000 tax exempt threshold.&amp;lt;br&amp;gt;&#x2022; income from a UK and\/or EEA furnished holiday lettings business.&amp;lt;br&amp;gt;&#x2022; patent income, where the individual alone or jointly devised the invention.&amp;lt;br\/&amp;gt;Note: Pension income, Capital Gains, rental income and investment income is not classed as earnings and cannot be included in the definition of relevant UK earnings.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Relevant UK earnings means any one or more of the following types of income:&amp;lt;br\/&amp;gt;&#x2022; employment income such as pay, wages, bonus, overtime, or commission and other P11D benefits.&amp;lt;br&amp;gt;&#x2022; income from self-employment or a partnership.&amp;lt;br&amp;gt;&#x2022; redundancy payment above the &#xA3;30,000 tax exempt threshold.&amp;lt;br&amp;gt;&#x2022; income from a UK and\/or EEA furnished holiday lettings business.&amp;lt;br&amp;gt;&#x2022; patent income, where the individual alone or jointly devised the invention.&amp;lt;br\/&amp;gt;Note: Pension income, Capital Gains, rental income and investment income is not classed as earnings and cannot be included in the definition of relevant UK earnings.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Relevant UK earnings<\/span> means any one or more of the following types of income:\n&#x2022; employment income such as pay, wages, bonus, overtime, or commission and other P11D benefits.\n&#x2022; income from self-employment or a partnership.\n&#x2022; redundancy payment above the &#xA3;30,000 tax exempt threshold.\n&#x2022; income from a UK and\/or EEA furnished holiday lettings business.\n&#x2022; patent income, where the individual alone or jointly devised the invention.\nNote: Pension income, Capital Gains, rental income and <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> income is not classed as earnings and cannot be included in the definition of <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Relevant UK earnings&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Relevant UK earnings means any one or more of the following types of income:&amp;lt;br\/&amp;gt;&#x2022; employment income such as pay, wages, bonus, overtime, or commission and other P11D benefits.&amp;lt;br&amp;gt;&#x2022; income from self-employment or a partnership.&amp;lt;br&amp;gt;&#x2022; redundancy payment above the &#xA3;30,000 tax exempt threshold.&amp;lt;br&amp;gt;&#x2022; income from a UK and\/or EEA furnished holiday lettings business.&amp;lt;br&amp;gt;&#x2022; patent income, where the individual alone or jointly devised the invention.&amp;lt;br\/&amp;gt;Note: Pension income, Capital Gains, rental income and investment income is not classed as earnings and cannot be included in the definition of relevant UK earnings.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Relevant UK earnings means any one or more of the following types of income:&amp;lt;br\/&amp;gt;&#x2022; employment income such as pay, wages, bonus, overtime, or commission and other P11D benefits.&amp;lt;br&amp;gt;&#x2022; income from self-employment or a partnership.&amp;lt;br&amp;gt;&#x2022; redundancy payment above the &#xA3;30,000 tax exempt threshold.&amp;lt;br&amp;gt;&#x2022; income from a UK and\/or EEA furnished holiday lettings business.&amp;lt;br&amp;gt;&#x2022; patent income, where the individual alone or jointly devised the invention.&amp;lt;br\/&amp;gt;Note: Pension income, Capital Gains, rental income and investment income is not classed as earnings and cannot be included in the definition of relevant UK earnings.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">relevant UK earnings<\/span>.<\/dfn><\/li><li class=\" ln-17\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"R\"><span itemprop=\"name\">Relevant UK Individual<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is an individual who, for a tax year:\n&#x2022; has <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Relevant UK earnings&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Relevant UK earnings means any one or more of the following types of income:&amp;lt;br\/&amp;gt;&#x2022; employment income such as pay, wages, bonus, overtime, or commission and other P11D benefits.&amp;lt;br&amp;gt;&#x2022; income from self-employment or a partnership.&amp;lt;br&amp;gt;&#x2022; redundancy payment above the &#xA3;30,000 tax exempt threshold.&amp;lt;br&amp;gt;&#x2022; income from a UK and\/or EEA furnished holiday lettings business.&amp;lt;br&amp;gt;&#x2022; patent income, where the individual alone or jointly devised the invention.&amp;lt;br\/&amp;gt;Note: Pension income, Capital Gains, rental income and investment income is not classed as earnings and cannot be included in the definition of relevant UK earnings.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Relevant UK earnings means any one or more of the following types of income:&amp;lt;br\/&amp;gt;&#x2022; employment income such as pay, wages, bonus, overtime, or commission and other P11D benefits.&amp;lt;br&amp;gt;&#x2022; income from self-employment or a partnership.&amp;lt;br&amp;gt;&#x2022; redundancy payment above the &#xA3;30,000 tax exempt threshold.&amp;lt;br&amp;gt;&#x2022; income from a UK and\/or EEA furnished holiday lettings business.&amp;lt;br&amp;gt;&#x2022; patent income, where the individual alone or jointly devised the invention.&amp;lt;br\/&amp;gt;Note: Pension income, Capital Gains, rental income and investment income is not classed as earnings and cannot be included in the definition of relevant UK earnings.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">relevant UK earnings<\/span> subject to income tax (see <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Relevant UK earnings&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Relevant UK earnings means any one or more of the following types of income:&amp;lt;br\/&amp;gt;&#x2022; employment income such as pay, wages, bonus, overtime, or commission and other P11D benefits.&amp;lt;br&amp;gt;&#x2022; income from self-employment or a partnership.&amp;lt;br&amp;gt;&#x2022; redundancy payment above the &#xA3;30,000 tax exempt threshold.&amp;lt;br&amp;gt;&#x2022; income from a UK and\/or EEA furnished holiday lettings business.&amp;lt;br&amp;gt;&#x2022; patent income, where the individual alone or jointly devised the invention.&amp;lt;br\/&amp;gt;Note: Pension income, Capital Gains, rental income and investment income is not classed as earnings and cannot be included in the definition of relevant UK earnings.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Relevant UK earnings means any one or more of the following types of income:&amp;lt;br\/&amp;gt;&#x2022; employment income such as pay, wages, bonus, overtime, or commission and other P11D benefits.&amp;lt;br&amp;gt;&#x2022; income from self-employment or a partnership.&amp;lt;br&amp;gt;&#x2022; redundancy payment above the &#xA3;30,000 tax exempt threshold.&amp;lt;br&amp;gt;&#x2022; income from a UK and\/or EEA furnished holiday lettings business.&amp;lt;br&amp;gt;&#x2022; patent income, where the individual alone or jointly devised the invention.&amp;lt;br\/&amp;gt;Note: Pension income, Capital Gains, rental income and investment income is not classed as earnings and cannot be included in the definition of relevant UK earnings.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Relevant UK Earnings<\/span>)\n&#x2022; is resident in the UK at some time during that year\n&#x2022; was resident in the UK both at some time during the previous five tax years and when the individual became a member of the pension scheme\n&#x2022; has, or whose spouse or civil partner has, general earnings from overseas Crown employment subject to UK tax.<\/dfn><\/li><li class=\" ln-17\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"R\"><span itemprop=\"name\">Relieved member<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is name given to a member of a non-UK pension scheme whereby, if at any time after 5 April 2006: &#13;\n&#x2022; contributions paid by the member to the scheme have received migrant member relief, transitional corresponding relief, or relief under a double taxation arrangement or;&#13;\n&#x2022; they are exempt from UK tax under section 307 of the Income Tax (Earnings and Pensions) Act 2003.<\/dfn><\/li><li class=\" ln-17\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"R\"><span itemprop=\"name\">Relieved non-UK pension scheme<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is a scheme that can be treated as the equivalent of a <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Registered Pension Scheme&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A pension scheme that is registered by HMRC under Chapter 2 of Part 4 of the Finance Act 2004. Having a pension scheme registered means it can benefit from certain tax reliefs and exemptions.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A pension scheme that is registered by HMRC under Chapter 2 of Part 4 of the Finance Act 2004. Having a pension scheme registered means it can benefit from certain tax reliefs and exemptions.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">registered pension scheme<\/span> for the purposes of the <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Annual Allowance&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is the maximum amount you can pay into your pension savings each year without paying a tax charge. It&#x2019;s currently &#xA3;60,000 for most people and applies across all your pension pots.  &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is the maximum amount you can pay into your pension savings each year without paying a tax charge. It&#x2019;s currently &#xA3;60,000 for most people and applies across all your pension pots.  &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Annual Allowance<\/span> and the <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Lifetime Allowance&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Lifetime Allowance<\/span>, in relation to a member who has non-UK pension rights.<\/dfn><\/li><li class=\" ln-17\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"R\"><span itemprop=\"name\">Re-Registering<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">The act of transferring the ownership of an asset from one company to another in its current form without the need to convert the asset to <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Cash&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>cash<\/span>. See also <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;In specie&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&lsquo;In specie&rsquo; means transferring the ownership of an asset without the need to convert it into cash. It comes from a Latin phrase meaning &lsquo;in its actual form&rsquo;. In specie transfers involve the transfer of assets between two pension schemes, while in specie contributions involve the transfer of assets from an individual or company to a pension scheme. Assets involved need to be properly valued and assessed for suitability by the receiving scheme.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&lsquo;In specie&rsquo; means transferring the ownership of an asset without the need to convert it into cash. It comes from a Latin phrase meaning &lsquo;in its actual form&rsquo;. In specie transfers involve the transfer of assets between two pension schemes, while in specie contributions involve the transfer of assets from an individual or company to a pension scheme. Assets involved need to be properly valued and assessed for suitability by the receiving scheme.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>In Specie<\/span>.<\/dfn><\/li><li class=\" ln-17\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"R\"><span itemprop=\"name\">Residential property<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Residential property&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A residential property is classified as:&amp;lt;br\/&amp;gt;&#x2022; a building or structure that is used or suitable for use as a dwelling&amp;lt;br&amp;gt;&#x2022; any related land that is wholly or partly the garden for the building or structure&amp;lt;br&amp;gt;&#x2022; any related land that is wholly or partly grounds for the residential property, and which is used or intended for use for a purpose connected with the enjoyment of the building&amp;lt;br&amp;gt;&#x2022; any building or structure on any such related land&amp;lt;br&amp;gt;&#x2022; any building specified in regulations as residential property.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A residential property is classified as:&amp;lt;br\/&amp;gt;&#x2022; a building or structure that is used or suitable for use as a dwelling&amp;lt;br&amp;gt;&#x2022; any related land that is wholly or partly the garden for the building or structure&amp;lt;br&amp;gt;&#x2022; any related land that is wholly or partly grounds for the residential property, and which is used or intended for use for a purpose connected with the enjoyment of the building&amp;lt;br&amp;gt;&#x2022; any building or structure on any such related land&amp;lt;br&amp;gt;&#x2022; any building specified in regulations as residential property.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">residential property<\/span> is classified as:\n&#x2022; a building or structure that is used or suitable for use as a dwelling\n&#x2022; any related land that is wholly or partly the garden for the building or structure\n&#x2022; any related land that is wholly or partly grounds for the <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Residential property&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A residential property is classified as:&amp;lt;br\/&amp;gt;&#x2022; a building or structure that is used or suitable for use as a dwelling&amp;lt;br&amp;gt;&#x2022; any related land that is wholly or partly the garden for the building or structure&amp;lt;br&amp;gt;&#x2022; any related land that is wholly or partly grounds for the residential property, and which is used or intended for use for a purpose connected with the enjoyment of the building&amp;lt;br&amp;gt;&#x2022; any building or structure on any such related land&amp;lt;br&amp;gt;&#x2022; any building specified in regulations as residential property.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A residential property is classified as:&amp;lt;br\/&amp;gt;&#x2022; a building or structure that is used or suitable for use as a dwelling&amp;lt;br&amp;gt;&#x2022; any related land that is wholly or partly the garden for the building or structure&amp;lt;br&amp;gt;&#x2022; any related land that is wholly or partly grounds for the residential property, and which is used or intended for use for a purpose connected with the enjoyment of the building&amp;lt;br&amp;gt;&#x2022; any building or structure on any such related land&amp;lt;br&amp;gt;&#x2022; any building specified in regulations as residential property.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">residential property<\/span>, and which is used or intended for use for a purpose connected with the enjoyment of the building\n&#x2022; any building or structure on any such related land\n&#x2022; any building specified in regulations as <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Residential property&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A residential property is classified as:&amp;lt;br\/&amp;gt;&#x2022; a building or structure that is used or suitable for use as a dwelling&amp;lt;br&amp;gt;&#x2022; any related land that is wholly or partly the garden for the building or structure&amp;lt;br&amp;gt;&#x2022; any related land that is wholly or partly grounds for the residential property, and which is used or intended for use for a purpose connected with the enjoyment of the building&amp;lt;br&amp;gt;&#x2022; any building or structure on any such related land&amp;lt;br&amp;gt;&#x2022; any building specified in regulations as residential property.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A residential property is classified as:&amp;lt;br\/&amp;gt;&#x2022; a building or structure that is used or suitable for use as a dwelling&amp;lt;br&amp;gt;&#x2022; any related land that is wholly or partly the garden for the building or structure&amp;lt;br&amp;gt;&#x2022; any related land that is wholly or partly grounds for the residential property, and which is used or intended for use for a purpose connected with the enjoyment of the building&amp;lt;br&amp;gt;&#x2022; any building or structure on any such related land&amp;lt;br&amp;gt;&#x2022; any building specified in regulations as residential property.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">residential property<\/span>.<\/dfn><\/li><li class=\" ln-17\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"R\"><span itemprop=\"name\">Retail Client<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Retail Client&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A Retail Client is a client who is not a professional client &#x2013; a professional client being someone who has the experience, knowledge and expertise to make investment decisions and assess the risks of such investments.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A Retail Client is a client who is not a professional client &#x2013; a professional client being someone who has the experience, knowledge and expertise to make investment decisions and assess the risks of such investments.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Retail Client<\/span> is a client who is not a professional client &#x2013; a professional client being someone who has the experience, knowledge and expertise to make <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> decisions and assess the risks of such investments.<\/dfn><\/li><li class=\" ln-18\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"S\"><span itemprop=\"name\">Safeguarded Benefits<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\"><span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Safeguarded Benefits&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Safeguarded benefits give you a level of secure pension income after you retire. That income may be calculated in several different ways but is usually based on either your final salary or your contributions. It may also be a promised rate in which you&#x2019;d have an option to convert what you&#x2019;ve accumulated so far into income at some future time (usually when the member turns a certain age).&amp;lt;br\/&amp;gt;There are three types of safeguarded benefit:&amp;lt;br\/&amp;gt;&#x2022; Guaranteed Minimum Pension (GMP): This is a set minimum pension that&#x2019;s guaranteed for men over 65 and women over 60. GMP benefits cannot be drawn early unless certain conditions are met. Pensioners with a GMP build up their pension rights through an employer&#x2019;s pension scheme. It replaces a portion of the State Pension.&amp;lt;br&amp;gt;&#x2022; Guaranteed Annuity Rate (GAR): This offers defined benefits and a guaranteed minimum rate annuity when you retire.&amp;lt;br&amp;gt;&#x2022; Defined Benefit (Final Salary): Your benefit is calculated according to your length of service and the salary you&amp;#039;ve earned at the time you leave that employer or retire.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Safeguarded benefits give you a level of secure pension income after you retire. That income may be calculated in several different ways but is usually based on either your final salary or your contributions. It may also be a promised rate in which you&#x2019;d have an option to convert what you&#x2019;ve accumulated so far into income at some future time (usually when the member turns a certain age).&amp;lt;br\/&amp;gt;There are three types of safeguarded benefit:&amp;lt;br\/&amp;gt;&#x2022; Guaranteed Minimum Pension (GMP): This is a set minimum pension that&#x2019;s guaranteed for men over 65 and women over 60. GMP benefits cannot be drawn early unless certain conditions are met. Pensioners with a GMP build up their pension rights through an employer&#x2019;s pension scheme. It replaces a portion of the State Pension.&amp;lt;br&amp;gt;&#x2022; Guaranteed Annuity Rate (GAR): This offers defined benefits and a guaranteed minimum rate annuity when you retire.&amp;lt;br&amp;gt;&#x2022; Defined Benefit (Final Salary): Your benefit is calculated according to your length of service and the salary you&amp;#039;ve earned at the time you leave that employer or retire.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Safeguarded benefits<\/span> give you a level of secure pension income after you retire. That income may be calculated in several different ways but is usually based on either your final salary or your contributions. It may also be a promised rate in which you&rsquo;d have an option to convert what you&rsquo;ve accumulated so far into income at some future time (usually when the member turns a certain age).\n\nThere are three types of safeguarded benefit:\n\n&bull; Guaranteed Minimum Pension (GMP): This is a set minimum pension that&rsquo;s guaranteed for men over 65 and women over 60. GMP benefits cannot be drawn early unless certain conditions are met. Pensioners with a GMP build up their pension rights through an <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Employer&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is any company of which you are, or have been, an employee or a director. It also includes any other person to whom you are, or have been, an employee.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is any company of which you are, or have been, an employee or a director. It also includes any other person to whom you are, or have been, an employee.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>employer<\/span>&rsquo;s pension scheme. It replaces a portion of the <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;State Pension&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is a regular payment form the government that most people can claim when they reach their pension age. In the UK, the amount a person receives depends on how many years of National Insurance contributions they have paid while they were working, as well as payments credited if\/when they were unable to work.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is a regular payment form the government that most people can claim when they reach their pension age. In the UK, the amount a person receives depends on how many years of National Insurance contributions they have paid while they were working, as well as payments credited if\/when they were unable to work.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">State Pension<\/span>.\n&bull; Guaranteed <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Annuity&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A guaranteed income paid to a member for the rest of their life. An Annuity can be for a fixed or increasing amount, and may include a guarantee period and\/or a secondary income payable to a spouse for the remainder of their life following the death of the member.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A guaranteed income paid to a member for the rest of their life. An Annuity can be for a fixed or increasing amount, and may include a guarantee period and\/or a secondary income payable to a spouse for the remainder of their life following the death of the member.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>Annuity<\/span> Rate (GAR): This offers defined benefits and a guaranteed minimum rate <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Annuity&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A guaranteed income paid to a member for the rest of their life. An Annuity can be for a fixed or increasing amount, and may include a guarantee period and\/or a secondary income payable to a spouse for the remainder of their life following the death of the member.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A guaranteed income paid to a member for the rest of their life. An Annuity can be for a fixed or increasing amount, and may include a guarantee period and\/or a secondary income payable to a spouse for the remainder of their life following the death of the member.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>annuity<\/span> when you retire.\n&bull; Defined Benefit (Final Salary): Your benefit is calculated according to your length of service and the salary you've earned at the time you leave that <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Employer&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is any company of which you are, or have been, an employee or a director. It also includes any other person to whom you are, or have been, an employee.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is any company of which you are, or have been, an employee or a director. It also includes any other person to whom you are, or have been, an employee.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>employer<\/span> or retire.<\/dfn><\/li><li class=\" ln-18\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"S\"><span itemprop=\"name\">SAYE<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A savings-related scheme set up by your <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Employer&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is any company of which you are, or have been, an employee or a director. It also includes any other person to whom you are, or have been, an employee.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is any company of which you are, or have been, an employee or a director. It also includes any other person to whom you are, or have been, an employee.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>Employer<\/span> under which you are given a right (known as a share option) to buy a certain number of shares at a fixed price at a particular time.<\/dfn><\/li><li class=\" ln-18\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"S\"><span itemprop=\"name\">Scheme Administrator<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">The person(s) responsible for the discharge of the functions of the pension scheme.<\/dfn><\/li><li class=\" ln-18\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"S\"><span itemprop=\"name\">Scheme Sanction Charge<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">HMRC tax rules specify the rules that need to be met for payments to be authorised. Any payment that doesn&#x2019;t meet these rules is classified as an <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Unauthorised Payment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A payment by a registered pension scheme that is not permitted by rules contained in the Finance Act 2004. For example, the payment of a pension before minimum pension age would be considered an unauthorised payment unless the member is in ill-health.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A payment by a registered pension scheme that is not permitted by rules contained in the Finance Act 2004. For example, the payment of a pension before minimum pension age would be considered an unauthorised payment unless the member is in ill-health.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">unauthorised payment<\/span> and therefore liable to a <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Scheme Sanction Charge&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;HMRC tax rules specify the rules that need to be met for payments to be authorised. Any payment that doesn&#x2019;t meet these rules is classified as an unauthorised payment and therefore liable to a Scheme Sanction Charge.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;HMRC tax rules specify the rules that need to be met for payments to be authorised. Any payment that doesn&#x2019;t meet these rules is classified as an unauthorised payment and therefore liable to a Scheme Sanction Charge.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Scheme Sanction Charge<\/span>.<\/dfn><\/li><li class=\" ln-18\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"S\"><span itemprop=\"name\">Self-Service<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is when a client is authorised by us (or their <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Financial Adviser&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;An FCA-authorised adviser who provides financial advice to you, and who is an employee or contractor of a Financial Adviser Firm.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;An FCA-authorised adviser who provides financial advice to you, and who is an employee or contractor of a Financial Adviser Firm.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">financial adviser<\/span>) to provide their own <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Instructions&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This means all instructions received from you, your financial adviser, or Discretionary Investment Manager relating to an account that are not Trade Instructions.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This means all instructions received from you, your financial adviser, or Discretionary Investment Manager relating to an account that are not Trade Instructions.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">instructions<\/span> through our online <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Services&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This simply means the services provided by your Financial Adviser Firm, its Associates, your Discretionary Investment Manager or ourselves as the case may be.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This simply means the services provided by your Financial Adviser Firm, its Associates, your Discretionary Investment Manager or ourselves as the case may be.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>services<\/span> with regard to their account.<\/dfn><\/li><li class=\" ln-18\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"S\"><span itemprop=\"name\">Services<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This simply means the <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Services&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This simply means the services provided by your Financial Adviser Firm, its Associates, your Discretionary Investment Manager or ourselves as the case may be.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This simply means the services provided by your Financial Adviser Firm, its Associates, your Discretionary Investment Manager or ourselves as the case may be.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>services<\/span> provided by your <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Financial Adviser Firm&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;The Financial Adviser Firm or network that is authorised and regulated by the FCA or PRA. This can also mean an appointed representative of such a firm or network.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;The Financial Adviser Firm or network that is authorised and regulated by the FCA or PRA. This can also mean an appointed representative of such a firm or network.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Financial Adviser Firm<\/span>, its Associates, your <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Discretionary Investment Manager&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A Discretionary Investment Manager has your authority (discretion) to manage an investment portfolio on your behalf. A discretionary management service can deliver highly tailored investment portfolios based upon your individual circumstances and objectives. They do not need to inform you every time they make a change, although many parameters can be agreed at the outset. You can, for example, specify that you want to invest in only ethical stocks, or avoid exposure to certain other stocks.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A Discretionary Investment Manager has your authority (discretion) to manage an investment portfolio on your behalf. A discretionary management service can deliver highly tailored investment portfolios based upon your individual circumstances and objectives. They do not need to inform you every time they make a change, although many parameters can be agreed at the outset. You can, for example, specify that you want to invest in only ethical stocks, or avoid exposure to certain other stocks.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Discretionary Investment Manager<\/span> or ourselves as the case may be.<\/dfn><\/li><li class=\" ln-18\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"S\"><span itemprop=\"name\">Short-term Annuity (Fixed-Term Annuity)<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">An <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Annuity&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A guaranteed income paid to a member for the rest of their life. An Annuity can be for a fixed or increasing amount, and may include a guarantee period and\/or a secondary income payable to a spouse for the remainder of their life following the death of the member.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A guaranteed income paid to a member for the rest of their life. An Annuity can be for a fixed or increasing amount, and may include a guarantee period and\/or a secondary income payable to a spouse for the remainder of their life following the death of the member.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>annuity<\/span> is a retirement product you can choose to buy with all or part of your pension pot. You might choose a <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Lifetime Annuity&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is an annuity contract purchased under a money purchase arrangement from an insurance company that provides you with an income for life.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is an annuity contract purchased under a money purchase arrangement from an insurance company that provides you with an income for life.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">lifetime annuity<\/span>, which pays you a regular income for the rest of your life, or a short-term <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Annuity&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A guaranteed income paid to a member for the rest of their life. An Annuity can be for a fixed or increasing amount, and may include a guarantee period and\/or a secondary income payable to a spouse for the remainder of their life following the death of the member.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A guaranteed income paid to a member for the rest of their life. An Annuity can be for a fixed or increasing amount, and may include a guarantee period and\/or a secondary income payable to a spouse for the remainder of their life following the death of the member.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>annuity<\/span> which lasts for a fixed number of years. A short-term <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Annuity&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A guaranteed income paid to a member for the rest of their life. An Annuity can be for a fixed or increasing amount, and may include a guarantee period and\/or a secondary income payable to a spouse for the remainder of their life following the death of the member.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A guaranteed income paid to a member for the rest of their life. An Annuity can be for a fixed or increasing amount, and may include a guarantee period and\/or a secondary income payable to a spouse for the remainder of their life following the death of the member.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>annuity<\/span> is also known as a fixed-term <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Annuity&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A guaranteed income paid to a member for the rest of their life. An Annuity can be for a fixed or increasing amount, and may include a guarantee period and\/or a secondary income payable to a spouse for the remainder of their life following the death of the member.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A guaranteed income paid to a member for the rest of their life. An Annuity can be for a fixed or increasing amount, and may include a guarantee period and\/or a secondary income payable to a spouse for the remainder of their life following the death of the member.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>annuity<\/span>. It will provide a regular amount of income for a certain time (usually no more than five years), but with the flexibility to change your mind later.<\/dfn><\/li><li class=\" ln-18\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"S\"><span itemprop=\"name\">SIPP<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A Self-Invested Personal Pension (<span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;SIPP&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A Self-Invested Personal Pension (SIPP) is a pension &amp;#039;wrapper&amp;#039; that allows you to save, invest and build up a pot of money tax free for when you retire. It also allows you to receive a tax-free lump sum from age 55 &nbsp;and withdraw an income (subject to your marginal rate of tax) in retirement, It iworks in a similar way to a standard personal pension.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A Self-Invested Personal Pension (SIPP) is a pension &amp;#039;wrapper&amp;#039; that allows you to save, invest and build up a pot of money tax free for when you retire. It also allows you to receive a tax-free lump sum from age 55 &nbsp;and withdraw an income (subject to your marginal rate of tax) in retirement, It iworks in a similar way to a standard personal pension.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>SIPP<\/span>) is a pension 'wrapper' that allows you to save, invest and build up a pot of money tax free for when you retire. It also allows you to receive a tax-free lump sum from age 55 &nbsp;and withdraw an income (subject to your marginal rate of tax) in retirement, It iworks in a similar way to a standard personal pension.<\/dfn><\/li><li class=\" ln-18\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"S\"><span itemprop=\"name\">Small Self-Administered Scheme<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">Small, self-administered pension schemes (SSAS) are occupational schemes that are generally set up to allow a small number of senior staff in a company to accrue pension funds separate to other staff members. Membership is generally limited to a maximum of 11 members. These are often company directors or senior executives, however SSASes can be open to other staff members and even family members.<\/dfn><\/li><li class=\" ln-18\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"S\"><span itemprop=\"name\">Sophisticated Investor<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">An individual or an institution that has significant financial market experience and knowledge capable of evaluating and understanding the merits and risks of a prospective <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span>.<\/dfn><\/li><li class=\" ln-18\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"S\"><span itemprop=\"name\">Spousal Bypass Trust<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">An individual can place their pension lump sum death benefits into a discretionary trust, which will still allow their spouse to benefit after their death but these benefits won&#x2019;t form part of their spouse&#x2019;s estate on death.<\/dfn><\/li><li class=\" ln-18\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"S\"><span itemprop=\"name\">Stakeholder Pension<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">Stakeholder pensions are a type of individual pension. Some employers offer them, but you can also start one yourself. Stakeholder pensions have low and flexible minimum contributions, capped <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Charges&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This refers to Platform Charges,&nbsp; SIPP or Pension Scheme Charges, Adviser Charges, Discretionary Investment Manager Model Portfolio Charges, transaction charges, account fees &ndash; and any other applicable charges that may&nbsp; be incurred by the client from time to time.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This refers to Platform Charges,&nbsp; SIPP or Pension Scheme Charges, Adviser Charges, Discretionary Investment Manager Model Portfolio Charges, transaction charges, account fees &ndash; and any other applicable charges that may&nbsp; be incurred by the client from time to time.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>charges<\/span> and a default <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> strategy &#x2013; which can be helpful if you don&#x2019;t want to make <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> decisions.<\/dfn><\/li><li class=\" ln-18\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"S\"><span itemprop=\"name\">Standard Asset<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">An asset that can be realised within 30 days and includes any of the following:\n&bull; bank account deposits\n&bull; <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Cash&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>cash<\/span>\n&bull; <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Cash&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>cash<\/span> funds\n&bull; exchange traded commodities\n&bull; government and local authority bonds and other fixed interest stocks\n&bull; <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> notes (structured products)\n&#x2022; shares in <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> trusts \n&#x2022; managed pension funds \n&#x2022; National Savings and <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Investment<\/span> products\n&#x2022; permanent interest-bearing shares (PIBs)\n&#x2022; Physical gold bullion\n&#x2022; real estate <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> trusts (REITs)\n&#x2022; securities admitted to trading on a regulated venue\n&#x2022; units in regulated collective <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span> schemes\n&#x2022; UK commercial property.<\/dfn><\/li><li class=\" ln-18\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"S\"><span itemprop=\"name\">Standard Lifetime Allowance<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">The statutory <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Lifetime Allowance&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Lifetime Allowance<\/span> that applies to a Benefit Crystallisation Event in a particular tax year unless you have a valid certificate or reference from HMRC for a higher <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Lifetime Allowance&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is themaximum value of pension savings that you can build up. Following a change in the rules, from 6th April 2023 there is no longer a tax charge on funds exceeding the Lifetime Allowance. The Lifetime Allowance details are available on the HMRC&#x2019;s website here.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Lifetime Allowance<\/span>.<\/dfn><\/li><li class=\" ln-18\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"S\"><span itemprop=\"name\">State Pension<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is a regular payment form the government that most people can claim when they reach their pension age. In the UK, the amount a person receives depends on how many years of National Insurance contributions they have paid while they were working, as well as payments credited if\/when they were unable to work.<\/dfn><\/li><li class=\" ln-18\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"S\"><span itemprop=\"name\">Successor<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">An individual nominated by a <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Beneficiary&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Any party entitled to death benefits, including any individual who is your dependant, nominee or successor.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Any party entitled to death benefits, including any individual who is your dependant, nominee or successor.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">beneficiary<\/span> to receive their benefits in the event of their death. The <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Scheme Administrator&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;The person(s) responsible for the discharge of the functions of the pension scheme.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;The person(s) responsible for the discharge of the functions of the pension scheme.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">scheme administrator<\/span> may also nominate a <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Successor&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;An individual nominated by a beneficiary to receive their benefits in the event of their death. The scheme administrator may also nominate a successor but only where the beneficiary has not nominated an individual or a charity.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;An individual nominated by a beneficiary to receive their benefits in the event of their death. The scheme administrator may also nominate a successor but only where the beneficiary has not nominated an individual or a charity.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">successor<\/span> but only where the <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Beneficiary&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Any party entitled to death benefits, including any individual who is your dependant, nominee or successor.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Any party entitled to death benefits, including any individual who is your dependant, nominee or successor.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">beneficiary<\/span> has not nominated an individual or a <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Charity&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A body or trust established for charitable purposes that is recognised by HMRC as a charity for tax purposes.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A body or trust established for charitable purposes that is recognised by HMRC as a charity for tax purposes.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>charity<\/span>.<\/dfn><\/li><li class=\" ln-19\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"T\"><span itemprop=\"name\">Takeover<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">The acquisition of one company by another, either on a recommended (agreed) or hostile basis.<\/dfn><\/li><li class=\" ln-19\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"T\"><span itemprop=\"name\">Tangible moveable property<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">Property that can be moved including items such as plant and machinery or equipment and fixtures\/fittings in buildings that are not normally part of the fabric of that building (e.g. solar panels, floor coverings, free-standing furniture, light shades and fittings, free standing gas and electric fires and kitchen white goods). It also includes cars, yachts, fine wines, jewellery etc.<\/dfn><\/li><li class=\" ln-19\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"T\"><span itemprop=\"name\">Tapered Annual Allowance<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">If your total income in year is more than &#xA3;260,000&#xA0; your <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Annual Allowance&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is the maximum amount you can pay into your pension savings each year without paying a tax charge. It&#x2019;s currently &#xA3;60,000 for most people and applies across all your pension pots.  &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is the maximum amount you can pay into your pension savings each year without paying a tax charge. It&#x2019;s currently &#xA3;60,000 for most people and applies across all your pension pots.  &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Annual Allowance<\/span> will reduce by &#xA3;1 for every &#xA3;2 you earn over that amount. If you earn &#xA3;200,000 or less, it won&#x2019;t affect you at all.<\/dfn><\/li><li class=\" ln-19\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"T\"><span itemprop=\"name\">Terms of Use<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">The rules that apply to your use of our technology and\/or <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Services&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This simply means the services provided by your Financial Adviser Firm, its Associates, your Discretionary Investment Manager or ourselves as the case may be.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This simply means the services provided by your Financial Adviser Firm, its Associates, your Discretionary Investment Manager or ourselves as the case may be.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>services<\/span> and that form an integral part of our online service and our Terms and Conditions.<\/dfn><\/li><li class=\" ln-19\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"T\"><span itemprop=\"name\">Third Party Bond Provider<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is a provider of an insured <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Bond&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A bond represents a loan between an investor and a borrower.  When you invest in a bond, you&rsquo;re agreeing to loan your money, usually to a government or company for a specific period. In exchange, you&rsquo;ll receive regular interest payments until the bond matures and the loan is fully repaid at the end. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A bond represents a loan between an investor and a borrower.  When you invest in a bond, you&rsquo;re agreeing to loan your money, usually to a government or company for a specific period. In exchange, you&rsquo;ll receive regular interest payments until the bond matures and the loan is fully repaid at the end. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>bond<\/span> who has chosen to offer access to an Embark TPIA (Third Party <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Investment<\/span> Account) within its own insured product.<\/dfn><\/li><li class=\" ln-19\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"T\"><span itemprop=\"name\">Third Party Provider<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">An external provider that has chosen to offer access to an Embark TPIA (Third Party <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Investment<\/span> Account) within their own product.<\/dfn><\/li><li class=\" ln-19\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"T\"><span itemprop=\"name\">Third Party SIPP Provider<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">Provider of a Self Invested Personal Pension who has chosen to offer access to an Embark TPIA (Third Party <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Investment<\/span> Account) within its own product.<\/dfn><\/li><li class=\" ln-19\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"T\"><span itemprop=\"name\">Threshold Income<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is the same as <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Adjusted Income&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;This is the total income for the tax year plus the value of any employee pension contributions and minus any allowances and\/or tax relief. Income can include salary, bonus, profits from self-employment, benefits in kind, pension income (including Uncrystallised Funds Pension Lump Sums), property, savings and dividends etc. Allowances\/reliefs can include pension scheme tax relief, gifts to charities and trade losses. &#xA0;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;This is the total income for the tax year plus the value of any employee pension contributions and minus any allowances and\/or tax relief. Income can include salary, bonus, profits from self-employment, benefits in kind, pension income (including Uncrystallised Funds Pension Lump Sums), property, savings and dividends etc. Allowances\/reliefs can include pension scheme tax relief, gifts to charities and trade losses. &#xA0;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Adjusted Income<\/span> however it excludes pension contributions.<\/dfn><\/li><li class=\" ln-19\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"T\"><span itemprop=\"name\">Trade Instruction<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This refers to an instruction received from you, your <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Financial Adviser&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;An FCA-authorised adviser who provides financial advice to you, and who is an employee or contractor of a Financial Adviser Firm.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;An FCA-authorised adviser who provides financial advice to you, and who is an employee or contractor of a Financial Adviser Firm.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Financial Adviser<\/span> or <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Discretionary Investment Manager&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A Discretionary Investment Manager has your authority (discretion) to manage an investment portfolio on your behalf. A discretionary management service can deliver highly tailored investment portfolios based upon your individual circumstances and objectives. They do not need to inform you every time they make a change, although many parameters can be agreed at the outset. You can, for example, specify that you want to invest in only ethical stocks, or avoid exposure to certain other stocks.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A Discretionary Investment Manager has your authority (discretion) to manage an investment portfolio on your behalf. A discretionary management service can deliver highly tailored investment portfolios based upon your individual circumstances and objectives. They do not need to inform you every time they make a change, although many parameters can be agreed at the outset. You can, for example, specify that you want to invest in only ethical stocks, or avoid exposure to certain other stocks.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Discretionary Investment Manager<\/span> to buy or sell investments relating to your account.<\/dfn><\/li><li class=\" ln-19\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"T\"><span itemprop=\"name\">Treasury bills<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">When an investor buys a Treasury Bill, they are effectively lending money to the government. They are financial concepts with a short term &#x2013; rarely is the term longer than one year. Since <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Treasury bills&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;When an investor buys a Treasury Bill, they are effectively lending money to the government. They are financial concepts with a short term &#x2013; rarely is the term longer than one year. Since treasury bills are directly backed by the government, they are very low-risk (and often low-return) investments. At the end of the term, investors receive their capital back plus interest. The interest rate is fixed in advance and does not change during the term.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;When an investor buys a Treasury Bill, they are effectively lending money to the government. They are financial concepts with a short term &#x2013; rarely is the term longer than one year. Since treasury bills are directly backed by the government, they are very low-risk (and often low-return) investments. At the end of the term, investors receive their capital back plus interest. The interest rate is fixed in advance and does not change during the term.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">treasury bills<\/span> are directly backed by the government, they are very low-risk (and often low-return) investments. At the end of the term, investors receive their capital back plus interest. The interest rate is fixed in advance and does not change during the term.<\/dfn><\/li><li class=\" ln-20\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"U\"><span itemprop=\"name\">UCITS<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">The Undertakings for the Collective <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">Investment<\/span> in Transferable Securities (<span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;UCITS&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;The Undertakings for the Collective Investment in Transferable Securities (UCITS) is the European Commission&amp;#039;s regulatory framework for managing and selling mutual funds. UCITS funds are authorised funds that can be sold in any country in the EU.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;The Undertakings for the Collective Investment in Transferable Securities (UCITS) is the European Commission&amp;#039;s regulatory framework for managing and selling mutual funds. UCITS funds are authorised funds that can be sold in any country in the EU.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>UCITS<\/span>) is the European Commission's regulatory framework for managing and selling <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Mutual Funds&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A mutual fund is a professionally managed collective investment scheme that pools money from many investors.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A mutual fund is a professionally managed collective investment scheme that pools money from many investors.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">mutual funds<\/span>. <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;UCITS&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;The Undertakings for the Collective Investment in Transferable Securities (UCITS) is the European Commission&amp;#039;s regulatory framework for managing and selling mutual funds. UCITS funds are authorised funds that can be sold in any country in the EU.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;The Undertakings for the Collective Investment in Transferable Securities (UCITS) is the European Commission&amp;#039;s regulatory framework for managing and selling mutual funds. UCITS funds are authorised funds that can be sold in any country in the EU.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>UCITS<\/span> funds are authorised funds that can be sold in any country in the EU.<\/dfn><\/li><li class=\" ln-20\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"U\"><span itemprop=\"name\">Unauthorised Payment<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">A payment by a <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Registered Pension Scheme&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A pension scheme that is registered by HMRC under Chapter 2 of Part 4 of the Finance Act 2004. Having a pension scheme registered means it can benefit from certain tax reliefs and exemptions.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A pension scheme that is registered by HMRC under Chapter 2 of Part 4 of the Finance Act 2004. Having a pension scheme registered means it can benefit from certain tax reliefs and exemptions.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">registered pension scheme<\/span> that is not permitted by rules contained in the Finance Act 2004. For example, the payment of a pension before minimum pension age would be considered an <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Unauthorised Payment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;A payment by a registered pension scheme that is not permitted by rules contained in the Finance Act 2004. For example, the payment of a pension before minimum pension age would be considered an unauthorised payment unless the member is in ill-health.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;A payment by a registered pension scheme that is not permitted by rules contained in the Finance Act 2004. For example, the payment of a pension before minimum pension age would be considered an unauthorised payment unless the member is in ill-health.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">unauthorised payment<\/span> unless the member is in ill-health.<\/dfn><\/li><li class=\" ln-20\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"U\"><span itemprop=\"name\">Uncrystallised funds<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">Pension funds that have not yet been subject to a Benefit Crystallisation Event.<\/dfn><\/li><li class=\" ln-20\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"U\"><span itemprop=\"name\">Uncrystallised Funds Pension Lump Sum (UFPLS)<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">This is when you take your savings as a single lump sum or a series of lump sums. They are a single payment, or a series of single payments, made up of 25% tax free <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Cash&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>cash<\/span> and 75% income (which is taxed at your marginal rate).<\/dfn><\/li><li class=\" ln-20\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"U\"><span itemprop=\"name\">USA IRS<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">The Internal Revenue Service of the United States &#x2013; the American equivalent of the UK&#x2019;s HM Revenue and Customs.<\/dfn><\/li><li class=\" ln-21\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"V\"><span itemprop=\"name\">Vacant Possession<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">When a property is sold with &#x2018;<span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Vacant Possession&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;When a property is sold with &#x2018;vacant possession&amp;#039;, this means&#xA0;it will be empty on the day the sale is completed. There will be no residents or tenants at the property, or any belongings (except where it has been agreed in the contract that certain belongings can\/must be left).&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;When a property is sold with &#x2018;vacant possession&amp;#039;, this means&#xA0;it will be empty on the day the sale is completed. There will be no residents or tenants at the property, or any belongings (except where it has been agreed in the contract that certain belongings can\/must be left).&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">vacant possession<\/span>', this means&#xA0;it will be empty on the day the sale is completed. There will be no residents or tenants at the property, or any belongings (except where it has been agreed in the contract that certain belongings can\/must be left).<\/dfn><\/li><li class=\" ln-21\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"V\"><span itemprop=\"name\">Vesting Date<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">The <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Vesting Date&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;The vesting date is the date where the trust, shares or options become available to the beneficiary, subject to the relevant conditions being met.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;The vesting date is the date where the trust, shares or options become available to the beneficiary, subject to the relevant conditions being met.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">vesting date<\/span> is the date where the trust, shares or options become available to the <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Beneficiary&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Any party entitled to death benefits, including any individual who is your dependant, nominee or successor.&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Any party entitled to death benefits, including any individual who is your dependant, nominee or successor.&amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">beneficiary<\/span>, subject to the relevant conditions being met.<\/dfn><\/li><li class=\" ln-22\" itemscope itemtype=\"https:\/\/schema.org\/DefinedTerm\" role=\"tab\"><span role=\"term\" class=\"glossaryLink glossary-link-title \" style=\"\" itemprop=\"url\" data-cl=\"W\"><span itemprop=\"name\">With Profits Pension<\/span><\/span><dfn class=\"glossary_itemdesc\" role=\"definition\" itemprop=\"description\">In a With-Profits pension fund, your money and that of other members is pooled and invested into a variety of assets such as shares, bonds, property and <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Cash&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>cash<\/span>. However, the value of a With-Profits fund goes up smoothly and the value is guaranteed not to fall provided you <span class=\"glossaryLink\"  aria-describedby=\"tt\"  data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Cash&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;&bull; Available Cash: Available cash is any cash held in your account that is not currently invested in assets. It is available for investing in assets or for withdrawals, or to pay charges.&amp;lt;br\/&amp;gt;&bull; Committed Cash: This is any cash that has been ring-fenced to complete any trading instructions. It is not available to be used for charges or to pay advisers.&amp;lt;br\/&amp;gt;&amp;lt;\/div&amp;gt; &lt;\/div&gt;\"  data-mobile-support=\"0\"  data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex='0' role='link'>cash<\/span> in on the day you set at the start of the <span class=\"glossaryLink\" aria-describedby=\"tt\" data-cmtooltip=\"&lt;div class=glossaryItemTitle&gt;Investment&lt;\/div&gt;&lt;div class=glossaryItemBody&gt; &amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;1&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;div&amp;gt;&amp;lt;div class=&amp;quot;cmtt_meaning_label&amp;quot;&amp;gt;2&amp;lt;\/div&amp;gt;Investment is purchasing an asset with the expectation that it will grow in value, producing an income or both. &amp;lt;\/div&amp;gt; &lt;\/div&gt;\" data-mobile-support=\"0\" data-gt-translate-attributes='[{\"attribute\":\"data-cmtooltip\", \"format\":\"html\"}]' tabindex=\"0\" role=\"link\">investment<\/span>.<\/dfn><\/li><\/ul><\/div><div class=\"clear clearfix cmtt-clearfix\"><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":9004111222342639,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"template-pagebuilder.php","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-9004111222339971","page","type-page","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Investments and Platform Glossary - Scottish Widows Platform - Clients<\/title>\n<meta name=\"description\" content=\"This glossary has been compiled to provide simple explanations of unfamiliar terms you may encounter when using our platforms &amp; 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