Retirement Annuity
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Retirement annuity plan - A Retirement Annuity Plan (RAP) is a UK pension plan designed to build a lump sum for retirement. Part of the lump sum must be used to buy an annuity and part can be taken a tax free lump sum.
Pension - A pension is a steady income given to a person (usually after retirement). Pensions are typically payments made in the form of a guaranteed annuity to a retired or disabled employee.
Individual Retirement Account - An Individual Retirement Account (or IRA) is a retirement plan account that provides some tax advantages for retirement savings in the United States.
Retirement plan - A retirement plan is an arrangement to provide people with an income, or pension, during retirement, when they are no longer earning a steady income from employment. Retirement plans may be set up by employers, insurance companies, the government or other institutions such as employer associations or trade unions.
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