Financial planning terminology

Financial planning terminology

GAR                       Guaranteed Annuity Rate

COMPS                 Contracted Out Money Purchase Scheme

MIP                        Maximum Investment Plan

AVC                       Additional Voluntary Contribution

GMP                      Guaranteed Minimum Pension

GILT ( red herring )

LIBOR                    London Interbank Offered Rate

NAV                       Net Asset Value

SSAS                      Small Self Administered Scheme

SIPP                       Self Invested Personal Pension

FIB                          Family Income Benefit

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About the author:
Paul Gorman  is a chartered financial planner and founding partner of Beaufort Planning