Personal Pensions
Personal pensions were introduced on 1 July 1988, replacing 'retirement annuity pensions'.
A personal pension can be taken out by an individual and a group personal pension can be set-up by an employer for its employees.
The death benefit from a Personal Pension plan is usually a full return of the value of the pension fund as at the date of death. The death benefits can be placed in trust or alternatively, a death benefit nomination form can be completed.
